Thomas Cook - Ceases Trading

[Strokes]

1 hour ago, yorkie1999 said:

They asked for £200 million, it's going to cost atol £600 million to re-repatriate and compensate everyone, seems a lot cheaper to actually give Thomas Cook the £200 million plus they'd still have the revenue. Read that 80% of holidays in Greece are through Thomas Cook and it will have a massive effect on their tourism industry, makes me wonder why didn't the Greek tourism industry help Thomas Cook out?

ATOL get their revenue from each booking and them paying £600m is not the same as the taxpayer paying a £200m bailout. Mismanaged companies should be allowed to fall and allow opportunities for new companies to rise. Thomas Cook have had plenty of time to turn things around and have ultimately failed. 

If you can’t make money out of British holiday makers then I’m afraid there is little hope.

[MPH]

3 hours ago, StanSP said:

Annoyed that most of the headlines are about the holiday-makers and their troubles now getting back home. Admittedly yes it is very shit and unfortunate they find themselves in this predicament. But it's short term issues compared to the other thousands of people who now have no jobs and may now struggle to pay their mortgages/bills etc. 

 

My sympathies lie more with those affected who used to work for them now as opposed to tourists who need to find alternatives to get home. 

 

 

I think it’s fair to sympathize with EVERYONE affected by the collapse 

Edited 23 September 2019 by MPH

[StanSP]

13 minutes ago, MPH said:

 

 

I think it’s fair to sympathize with EVERYONE affected by the collapse 

I agree. I didn't say I didn't sympathise with the holidaymakers! 

[Suzie the Fox]

I have a holiday booked to go to Egypt in 2 weeks and although it was not booked through Thomas Cook the company had hired a TC plane for the flight. I've contacted the company i've booked the holiday with this morning and was told they are doing their best to arrange for a different plane, but could not guarantee the holiday won't get cancelled  Proper gutted as ive been looking forward to this trip for months. 

 

So basically its not just Thomas Cook and their employees this affects but it will have a knock on effect for many other companies too. 

 

 

[Fox92]

Sad day for the travel industry when the originals fold.

[Fox92]

3 hours ago, The People's Hero said:

Originally a Leicester company wasn't it? First ever travel agent in the world?

 

Regardless its a very sad story and potentially a bit ridiculous that the Govt didn't just seek to take control of the company and fully bail it out, given that the taxpayer is paying for all the repatriation anyway. Don't know the details so there's probably a good explanation.

 

Huge company and a bit of an institution. Plenty jobless. Terrible news.

 

1 hour ago, Facecloth said:

Yeah, set up in Leicester. First organised trip was to Loughborough. He was walking from Market Hatnorough for a Temperence Society meeting and had the idea. I live off Thomas Cook Place in Loughborough, as its opposite the train station.

 

In think other have pointed out, the government don't bail out all companies. It's sad but they can't save everything. Companies go under all the time for various reasons, the government can't save them all. As pointed out, it might £200m now, but when would the next £200m be needed.

 

I agree with the others on here saying they just don't seem to have moved with the times. Still having a huge high street presence, having three huge headquarters rather than one, things like that. They've been struggling for a while and from what I'm hearing today, they haven't acted when they've come close before, they've just refinanced and carried on losing money. 

Thomas Cook is buried in Welford Rd cemetery too.

[sm1]

[MPH]

2 hours ago, StanSP said:

I agree. I didn't say I didn't sympathise with the holidaymakers! 

 

 

apologies if i read it wrong

Edited 23 September 2019 by MPH

[isaidno]

I've booked with them for April 🙁

[UpTheLeagueFox]

5 hours ago, yorkie1999 said:

They asked for £200 million, it's going to cost atol £600 million to re-repatriate and compensate everyone, seems a lot cheaper to actually give Thomas Cook the £200 million plus they'd still have the revenue. 

As I read it, this 200m would plug a short term gap and they'd still have to pay the 600m down the line to repatriate when the company gets into the same position again.

 

Some people are 'blaming Brexit' for this but then surely all travel companies and airlines would be going to the wall if Brexit was the problem.

 

Sad times for those affected.

 

PS Thomas Cook once mislaid my luggage on a flight back to Manchester.

I took them to court.

I lost my case.

[Izzy]

6 minutes ago, UpTheLeagueFox said:

 

PS Thomas Cook once mislaid my luggage on a flight back to Manchester.

I took them to court.

I lost my case.

[UpTheLeagueFox]

1 minute ago, Izzy said:

Surprised you haven't done a search of the joke thread to see if I've broken one of your FT rules mate 

[yorkie1999]

6 minutes ago, UpTheLeagueFox said:

As I read it, this 200m would plug a short term gap and they'd still have to pay the 600m down the line to repatriate when the company gets into the same position again.

 

Some people are 'blaming Brexit' for this but then surely all travel companies and airlines would be going to the wall if Brexit was the problem.

 

Sad times for those affected.

 

PS Thomas Cook once mislaid my luggage on a flight back to Manchester.

I took them to court.

I lost my case.

We were on about it at work and it seems i'm the only one who goes into a travel agent and books a holiday, or rather my wife does, nearly everyone else sorts their holidays out on line.

[Jon the Hat]

It's always sad for impacted employees when a large company goes under.  To be honest though, if one hot summer can push you over the edge then the fundamentals are wrong.  I hope the directors remuneration plan has a clawback clause!

 

From what I have read today, TC had an insane number of physical stores which cannot have even come close to paying their way (including those they bought from the Co-op.  They had 3 large offices when 1 would have done just as well.

 

For the government to step in would not only have been a foolish economic decision, but it also would have been unfair on successful profitable travel agents who have done everything right.

[Jimothy]

Thomas Cook passenger won't be out of pocket because the EU Package Travel Directive (2015/2302/EU), protects European travellers for cancellation, repatriation and refunds. Bloody EU red tape eh.

[SystonFox]

8 hours ago, stripeyfox said:

He's one of our own...

 

YOURE NOT FLYING

YOURE NOT FLYING

YOURE NOT FLYING ANY MOOOOORRREEEEE

 

 

 

too soon?

[Paninistickers]

haven't booked a package holiday in donkey's years.

 

But flew with them to Copenhagen for the champions  league on a well organised tour, on a lovely old banger of a 767 with an excellent in flight fry up thrown in. So, fond memories of Thomas Cook for that alone

[Nalis]

Will the statue outside the station get vandalised despite Thomas Cook dying over 100 years ago?

[Nalis]

1 hour ago, SystonFox said:

YOURE NOT FLYING

YOURE NOT FLYING

YOURE NOT FLYING ANY MOOOOORRREEEEE

 

 

 

too soon?

Boarding at Gate 12, you'll never sing that

[Strokes]

1 hour ago, Facecloth said:

Thomas Cook passenger won't be out of pocket because the EU Package Travel Directive (2015/2302/EU), protects European travellers for cancellation, repatriation and refunds. Bloody EU red tape eh.

They’d also be no need to repatriate after brexit, they’d still be queuing at the airport.

[Dr The Singh]

So sad

[fuchsntf]

38 minutes ago, Strokes said:

They’d also be no need to repatriate after brexit, they’d still be queuing at the airport.

Could be the First time...Luggage lose passengers..!!! Not in transportation..

[m4DD0gg]

Car crash of a company who owed millions and can no longer hide behind 'its brexit uncertainty'.

[stripeyfox]

3 hours ago, SystonFox said:

YOURE NOT FLYING

YOURE NOT FLYING

YOURE NOT FLYING ANY MOOOOORRREEEEE

 

 

 

too soon?

You're supposed to be at home... 

You're supposed to be at home... 

 

Oh wait, you are.... 

 

 

[BoyJones]

TUI has taken advantage as you would expect. Their website crashed with so many people trying to book alternative holidays. 

 

Three of my friends managed after 4 hours to book new holidays with TUI at around £1200-£1400 for each family in Turkey - by this evening the same holidays were over £2000!! 

 

This is just the sort of thing that needs clamping down on. The hotels won't get anymore dosh - just goes into TUI's pocket.