Thomas Cook

[LewisM]

Hope no one here had booked or paid anything to Thomas Cook travel - they just went t!ts up - voluntary liquidation/bankruptcy.

At least 600000 tourists affected, and 22000 staff jobs cut.

[xelasnave]

Not good. Lewis I sent you a pm did you receive it?
Alex

[Bobbyoutback]

Thomas Cook , started in 1841 ' just the start of these nightmares it seems .

Watch this video : https://thedailycoin.org/2019/09/22/gold-to-reach-10000-property-prices-to-collapse/

Bobby .

[Ukastronomer]

where do you get 600,000

[LewisM]

https://www.bbc.com/news/business-49768687

And:" Some 600,000 passengers are affected, with 150,000 UK citizens stranded abroad. The Civil Aviation Authority has organised a squadron of planes from other operators to bring people home -- but transport secretary Grant Shapps has warned the operation may not go smoothly." [https://www.theguardian.com/business/live/2019/sep/23/thomas-cook-travel-chaos-insolvency-leaves-150000-stranded-on-holidays-live-updates]

[Ukastronomer]

Well that is more

About 800,000 British people had future bookings and the company had 9,000 employees in the UK, 809,000, I wonder what the unknown real figure would be, hotels, taxis, cleaners, shop workers, traders, suppliers, beach vendors at resorts, tourist destination places of interest

Amazing how one company has so much influence when it goes wrong, bet many wish they had insurance

[GrahamL]

Reading a little the industry has been falling apart for many years in that many manage there own holiday arrangements and are able to do so online without any dramas .I never thought twice about booking accomadation and things to do on a day to day basis or chasing airfares
and would suspect younger generations would do so even more .

This company was riddled with debt for many years while its profit source continued to get smaller ? It is convieniant at times to book a small break with these companies but in light of the industry as a whole , and there are others if I' m reading right who are similarly up to necks in debt this might get a whole lot worse in years to come .

[Ukastronomer]

Many years ago when I was 8 onward we always (I am over 60 now) went away with just my fathers weeks pay, even then and always we had a caravan, up 'till early teens, he never booked

I have always taken my sons on holiday every year never booked and never had a problem, all done without travel agents and their commission

What is really annoying people now is that people who could not be bothered to pay insurance are complaining that they should get help from the government, a kick in the face to people who did pay as they should, sorry, they wanted to save a few pounds now let them reap the loss

[lazjen]

What happened to them is just another example of market disruptors coming in, changing the "game" and the "old guard" not adapting to the change. It's actually difficult for some established companies to adapt to change because at the time it starts they're generally still quite profitable at what they do. It takes some vision and a lot of influence within the company to be able to effect the changes required to not be left behind.

If they had been smarter, at least at the stage when they realised they were so far behind - they should have looked for someone to buy them out. Not sure if they tried - haven't look into their past carefully.