Thomas Cook Travel and Airline Collaspses Stops Trading

[arista]

China Company is still to buy it,
but still they are tanking.
The next 24hours
means it must plug a £200 million hole.


A Fire Sale
178 years company.

Also possible trouble if it goes under
to get folks home.


Just reported Live On SkyNewsHD
buy their great City Editor

1174718620766789632

https://www.bbc.co.uk/news/business-49761464

[Alf]

"Don't just book it, Thomas Cook it"

[arista]

"Don't just book it, Thomas Cook it"


Those Days have long gone.
around 10 days to try and get new funds.

[arista]

Latest:
[Thomas Cook gives up hope of private rescue amid City blame game
The hedge fund CQS walks away from talks to provide urgent liquidity
to the ailing travel company]





https://www.bbc.co.uk/news/business-49761464

[The travel company could fall into administration this
weekend unless it
finds £200m in extra funds needed to secure its future.
Banks, including RBS and Lloyds, insist the firm comes up with
the new contingency funds in case it needs extra money
during the winter months.
A collapse would leave 150,000 UK holidaymakers stranded.]


https://ichef.bbci.co.uk/news/624/cpsprodpb/71C9/production/_108892192_dailyexpress.jpg

[arista]

https://i.dailymail.co.uk/1s/2019/09/20/15/18720936-0-image-a-2_1568990074054.jpg

https://i.dailymail.co.uk/1s/2019/09/21/10/18751542-7486533-Highs_and_lows_The_peaks_and_troughs_of_Thomas_Coo k_s_share_pric-a-18_1569056610953.jpg


The 2 Banks are refusing to lend
any more money as the future is grim

[arista]

Thomas Cook crisis: UK 'has plans in place' if customers are left stranded

[The 178-year-old company needs to
secure a £200m lifeline following a
demand from lenders - or face being placed
into bankruptcy proceedings in the early hours of Monday.]


Tomorrow Monday
a final meeting.

https://news.sky.com/story/thomas-cook-collapse-would-leave-me-in-life-threatening-situation-11816011



A BBCNewsHD report
showed a hotel in Tunisia
that locked the gates
stopping anyone leaving last night
they were afraid they were not getting paid by Thomas Cook
later on they were paid.
Maybe they watching UK news feed

[arista]

1175887226745643009


Brexit is running anyway
The Truth in Thomas Cook
is they are not able to stay afloat
not able to get any more loans

1175916496473792512

[LaLaLand]

A lady I know was due to go on holiday tonight to Tunisia, flying about now, she'd been looking forward to going for over a year. Booked with TC and idk if she's gone or not now, looking doubtful. Feel so sorry for her. :sad:

[arista]

1175549865780293632

[arista]

A lady I know was due to go on holiday tonight to Tunisia, flying about now, she'd been looking forward to going for over a year. Booked with TC and idk if she's gone or not now, looking doubtful. Feel so sorry for her. :sad:


Yes it terrible
Anyone with a Thomas Cook deal should not go


https://news.sky.com/story/rescue-hopes-fade-as-thomas-cook-slides-towards-collapse-11817447

[arista]

Thomas Cook online
have stopped any more bookings


1175813264804069378

[arista]

Now sadly confirmed
Thomas Cook has failed to stay afloat.

There Costings never went low.

No more Flights.

[arista]

1175880328688340995

Sadly you are now Fired

[arista]

https://pbs.twimg.com/media/EFHF68ZXYAAU9JY?format=jpg&name=small



[half-year losses of £1.46bn]

[Denver]

1175880328688340995

Sadly you are now Fired

Actullay they are made redundant not fired

[LaLaLand]

:sad:

[arista]

Actullay they are made redundant not fired




Very True

[arista]

1175689498522529793

[joeysteele]

Really sad.
All my thoughts are with those losing their jobs and the vast number of stranded passengers, facing awkward, longer waits and journey's eventually back home.

[Jigs]

Feeling very frustrated on behalf of those stuck or faced with redundancy this morning. I know how furious I'd be if I was stuck in this situation so I hope it is resolved for everyone soon!

[bots]

it was inevitable, the company had been on borrowed time for a long time

[Kazanne]

It's a bit sad for me,I used to work for Thomas Cook as a holiday rep,I met my husband on one of my stays in Zante and we had a beautiful daughter, we both left years ago,but still sad they are no more.

[Vicky.]

It's a bit sad for me,I used to work for Thomas Cook as a holiday rep,I met my husband on one of my stays in Zante and we had a beautiful daughter, we both left years ago,but still sad they are no more.

When I was repping in Zante, I worked half for Thomas Cook, half for the actual hotel..was a weird setup and it nearly killed me tbh but something I will never regret, such a different life. Technically I still have an Albanian fiance out there :laugh: I think I worked more for the hotel though, as it was mainly bar duties and that, and making me do bar crawls with customers. Daytime though, always when hungover and fuctioning on like 3 hours sleep (if that) I had to do kids entertainment/pool games D:

600 euro a month though, for like..20 hour days with 2 days a month off (and on days off you were expected to do some work really..) was..harsh. Mind, we got accomodation and food and alcohol paid for I guess. Writing this down, though I wonder if I ever actually worked for Thomas cook, thats what my bos said, but I was always paid cash in hand, and quite sure thomas cook would have had some rule against both the hours we did, and the type of work that was expected at times..never thought to ask many questions as it was just..well fun, and I was being paid so no need to rock the boat. Didnt really care who I worked for.

Whats going on with the Tunisian holidaymakers is disgusting.

[AnnieK]

Such a shame. Feel for all the staff.

[The Slim Reaper]

"Don't just book it, Thomas Cook it"

Don't just flex it, when Brexit wrecks it.

[The Slim Reaper]

Such a shame. Feel for all the staff.

Tell us something we don't know.

[arista]

Don't just flex it, when Brexit wrecks it.



Look 8 years ago or so they nearly went under
Its not Your Brexit.


Bad Managed
not getting up to date



9,000 UK Workers
22,000 Workers Worldwide.

[AnnieK]

I don't think you can attribute this administration wholly to Brexit but what is scary is the sheer numbers of other workers that will face similar redundancy threats should we crash out, I fear.

[SherzyK]

zmMkE0TmPrY

[Niamh.]

Deleted some posts in here, back on topic please

[Kizzy]

If it wasn't for this brexit uncertainty they wouldve been bailed I think. Thing is why was the onus in the govt to get them home? Travel agents such as tc are ABTA and ATOL protected so the holiday is insured against this when you book?...

[Cal.]

I hope this ruins Danielle’s next little girlie holiday

[Twosugars]

My understanding is they overstretched themselves with purchases and never recovered from that
Is this correct, Arista our man in the City?

[arista]

My understanding is they overstretched themselves with purchases and never recovered from that
Is this correct, Arista our man in the City?


Yes they bought many small companies,
kept expanding
and had a Massive debt building up.

Thomas Cook should have got smaller
not bigger.


Some are locked in the gates of a Hotel
with Coaches outside. (Tunisia)
That is terrible.

Funding for that Hotel is Locked Up
until all is looked into.

[arista]

I hope this ruins Danielle’s next little girlie holiday


I am Sure its a B & B
not Thomas Cook

[Twosugars]

Top executives were getting bonuses while the company was struggling
This sort of thievery has to stop

[Beso]

Ah who cares, they are all old fuddy duddies who voted leave.

[Ammi]

...holiday makers are being thrown out of hotel rooms, but they obviously don’t know when they’ll get a flight home atm...there will be huge salary losses for the holiday makers as well, when they can’t get back to work and are going to have to take unpaid leave, I would think...:sad:..

[arista]

Ah who cares, they are all old fuddy duddies who voted leave.


Nice to have you back Parmy.

[arista]

...holiday makers are being thrown out of hotel rooms, but they obviously don’t know when they’ll get a flight home atm...there will be huge salary losses for the holiday makers as well, when they can’t get back to work and are going to have to take unpaid leave, I would think...:sad:..


Yes I agree its Sad.

But his massive Debt the CEO
should have cut the company down
making it smaller.

[bots]

A hedge fund made over 200 million from the demise of Thomas Cook. Contributors to that hedge fund were in a position to engineer the extra capital requirements forced on Thomas Cook. If people are looking for someone to blame, i would point them firmly in that direction.

[Beso]

What I can't understand Is that there are 150 thousand brits to bring back...and it's quiet season.....
Imagine the numbers in July and August. ..


Where the hell has all that cash gone...

[Twosugars]

A hedge fund made over 200 million from the demise of Thomas Cook. Contributors to that hedge fund were in a position to engineer the extra capital requirements forced on Thomas Cook. If people are looking for someone to blame, i would point them firmly in that direction.

JFC:facepalm:

[arista]

https://ichef.bbci.co.uk/news/624/cpsprodpb/E7B0/production/_108921395_daily-mirror-23-sep.jpg


https://ichef.bbci.co.uk/news/624/cpsprodpb/E42C/production/_108921485_daily-express-front-page-24.jpg

[arista]

https://ichef.bbci.co.uk/news/624/cpsprodpb/183F0/production/_108921399_daily-mail-front-page-23.jpg

https://ichef.bbci.co.uk/news/624/cpsprodpb/019C/production/_108921400_the-sun-front-page-24-sep.jpg

[Twosugars]

Told you Arista. Fat cats need restraining. They cant help themselves

[arista]

[Thomas Cook: Boss of Condor arm 'sorry'
for bailout celebrations
There are red faces at the
Thomas Cook German airline
operation after workers were
filmed celebrating a taxpayer rescue.]


Lucky Germans
Stay trading

https://news.sky.com/story/boss-of-thomas-cooks-condor-arm-sorry-for-bailout-celebrations-11819882

[Cherie]

Its pretty incredible that an iconic company of this size has gone bust, the management should be called to account for how this could happen

[bots]

Its pretty incredible that an iconic company of this size has gone bust, the management should be called to account for how this could happen

it was the height of incompetence in management. Yes, the terror attacks had a massive impact, but the Tunisia incident was years ago now. If a company can't re-organise to deal with something like that, they don't deserve to be in business

[arista]

Its pretty incredible that an iconic company of this size has gone bust, the management should be called to account for how this could happen

Yes running a Big Company
with Billions in Debt.
They will just say the Banks let them Down

[user104658]

Its pretty incredible that an iconic company of this size has gone bust, the management should be called to account for how this could happen

To be honest though part of it is just that they're becoming a bit outdated conceptually... you can (usually) piece together a holiday cheaper booking online yourself than taking a package and younger people are more able and willing to do that than Boomers were. They would have had to completely restructure into something else.

[Ammi]

Hays Travel has agreed a deal to buy all 555 Thomas Cook stores in the UK, offering hope of work to former staff.

The Official Receiver said Hays, the country's largest independent travel agent, had already taken on 421 ex-Thomas Cook employees.

More follows...

https://news.sky.com/story/thomas-cook-uk-store-estate-sold-to-hays-travel-offering-hope-to-ex-staff-11831224

...hopefully this will mean many job saves...

[arista]

Yes that some good news

[Kizzy]

Hays Travel has agreed a deal to buy all 555 Thomas Cook stores in the UK, offering hope of work to former staff.

The Official Receiver said Hays, the country's largest independent travel agent, had already taken on 421 ex-Thomas Cook employees.

More follows...

https://news.sky.com/story/thomas-cook-uk-store-estate-sold-to-hays-travel-offering-hope-to-ex-staff-11831224

...hopefully this will mean many job saves...

That's really good news! I hope they get a new radio jingle hays travel has the worst :joker: