British travel firm Thomas Cook collapses

British travel firm Thomas Cook collapses

The world’s oldest travel firm, British holidaymaker Thomas Cook, has slumped into administration. This has left 150,000 UK holidaymakers stranded and 21,000 people out of work. While pledging to get stranded British travelers home, PM revealed that the government had rejected a request from Thomas Cook for a bailout, saying doing so would have set up a ’moral hazard’.

KCooper
KCooper
Deimantas
Deimantas 7 months

The government did the right thing. Issuing bail-out's is a slippery slope and the travelers will get home safe and sound. I feel bad for the workers who lost their jobs but it happens--businesses go down.

Donald Darko
Donald Darko 7 months

I feel for those stranded travelers, it just doesn't seem right. Were there signs this company was in trouble that the average traveler could see?

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