Thomas Cook’s bankruptcy – which stranded 600,000 passengers and ruined travel plans – is just one example of disastrous company collapses. Lehman Brothers’ collapse wrecked the global economy and sunk the stock market. The Enron scandal showcased the lengths corporate financiers would go to defraud investors. Here are 9 examples […]
Thomas Cook, the storied British travel company and airline, declared bankruptcy early Monday morning. The company’s largest shareholder, with an 18% stake, is China-based Fosun International and its chairman Guo Guangchang. The 52-year-old has sought to emulate Warren Buffett with his investment style, but he could take a massive hit […]
A Thomas Cook customer stranded in Turkey said a piece of paper was the only communication he’d received from the UK travel company since it collapsed early Monday. Joshua Speer, 24, and his partner, Chloe, are in Kemer, in southwestern Turkey. Speer said they had received no information from the […]
A Thomas Cook flight attendant said she learned of the company’s collapse and that she had lost her job from Facebook. The British airline and travel company filed for bankruptcy on Monday morning, leaving 600,000 people stranded. It employed 21,000 people. Louise Rudkin, a cabin crew member, tweeted: “Absolutely devastated […]
The British travel company Thomas Cook declared bankruptcy early on Monday, leaving about 600,000 people stranded around the world. Travellers affected by Thomas Cook’s collapse are sharing their stories of cancelled vacations, lost money, and even “being held hostage.” One woman told the BBC that she and her fiancé had […]
T he UK government rejected a £150 million deal to bail out the travel company Thomas Cook this past weekend. The struggling company declared bankruptcy after the talks failed. As a result, UK officials are organising return travel for 150,000 British people at an estimated cost of about £100 million, […]
UK Prime Minister Boris Johnson refused to bail out the collapsed travel firm Thomas Cook. The company had asked the UK government for £150 million, or about $US186 million, which the prime minister refused over what he said was the “moral hazard” doing so would cause for other firms at […]
Thomas Cook, the storied British travel company and airline, declared bankruptcy early Monday morning. About 600,000 travellers, including 150,000 Britons, were left stranded, leading the British government to begin the largest peacetime repatriation effort in history. The tour operator was still scrambling to secure an additional £200 million, or $US249 […]
Thomas Cook Airlines staff threatened to throw a 21-year-old woman off a plane for wearing a crop top. Emily O’Connor said they told her to “cover up” as she was “causing offence” and her outfit was “inappropriate.” O’Connor said a male passenger on board shouted: “Shut up you pathetic woman. […]
Animal rights activists invested in travel company Thomas Cook in a protest against its stance on SeaWorld. PETA bought around £1.20 of stock to gain access to Thomas Cook’s AGM in London and lobby executives and shareholders. Campaigners object to the company selling tickets to SeaWorld, which they think is […]
The annual results for Webjet will be subject to a qualified audit because of dispute with the online travel agency’s auditors, BDO. Webjet says the issue is over “a technical accounting matter” relating to the treatment of transactions associated with a deal made last year global agency Thomas Cook. BDO […]
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Travel companies are scrambling to fly back British tourists and letting customers change bookings.