Hundreds of thousands stranded after British travel firm Thomas Cook collapsesReuters, Sep 22, 2019
LONDON (Reuters) - Hundreds of thousands of holidaymakers were stranded on Monday by the collapse of the world’s oldest travel firm Thomas Cook (TCG.L), sparking the largest peacetime repatriation effort in British history.
The liquidation marks the end of a British company that started in 1841 running local rail excursions and grew to pioneer the family package holiday across Europe, America, Africa and the Middle East.
Running hotels, resorts and airlines for 19 million people a year, it currently has around 600,000 people abroad and will need the help of governments and insurance firms to bring them home from places as far afield as Cancun, Cuba and Cyprus.
Thomas Cook’s demise, announced in the early hours of Monday after failing to secure a deal with creditors or a government bailout, sparked alarm at hotels where some customers have been asked to pay their bills again by out-of-pocket resort owners.
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https://www.reuters.com/article/us-thomas-cook-grp-investment/british-travel-firm-thomas-cook-collapses-stranding-hundreds-of-thousands-idUSKBN1W801E?il=0
