Thomas Cook collapses, leaving thousands of travelers stranded

News / Thomas Cook collapses, leaving thousands of travelers stranded

The company has ceased trading with immediate effect

September 23, 2019 - Thomas Cook, the world’s oldest travel firm, collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history.

We are sorry to announce that Thomas Cook has ceased trading with immediate effect.
This account will not be monitored.
Please visit https://t.co/WWiKkzLYQJ for further advice and information.#ThomasCook pic.twitter.com/Nf1X3jn97x

— Thomas Cook (@ThomasCookUK) September 23, 2019

Chief Executive Peter Fankhauser said it was a matter of profound regret that the company had gone out of business after it failed to secure a rescue package from its lenders.

The firm runs hotels, resorts, airlines and cruises for 19 million people a year in 16 countries. It currently has 600,000 people abroad, forcing governments and insurance companies to coordinate a huge rescue operation.

The UK’s Civil Aviation Authority said Thomas Cook had now ceased trading and it would work with the government to bring the more than 150,000 British customers home over the next two weeks. For more information, please visit globalnews.ca