Thomas Cook collapses

[Richard Frost]

Thomas Cook collapses.

Story here: https://www.bbc.co.uk/news/business-49791249

Inevitable I thought as press and other outlets having been talking it up over the last few weeks. A Conservative government was never going to give it a bail out. Totally against their principles.

This type of business is just not suitable for today's market IMO with the rise of the internet and the ease and availability of making bookings through other means.

[parchedpeas]

Sold holidays in £
Paid suppliers in €

But according to the government, it's nothing at all to do with Brexit.

[cccashbacklover]

But according to the government, it's nothing at all to do with Brexit.

Could easily have gone bust in 2011

"So is the CAA watching nervously any other travel firms in difficulty? "There's no body else we are worried about of this sort of scale."

She said Thomas Cook was operating in an "incredibly competitive" market, but had some specific problems - such as failing to adapt to changing consumer demands.

A comment she heard a couple of days ago sums up the issue, Dame Deidre said: "Thomas Cook is operating on brochures, whereas the world has moved on to barcodes."

[Richard Frost]

Sold holidays in £
Paid suppliers in €

But according to the government, it's nothing at all to do with Brexit.

I do not think the collapse was directly because of Brexit. Brexit contributed in as much as the economy was less stable than it might have been and people were less confident about the future than they might have been. But the overriding reason IMO was that they had not kept up to date with the times and modern ways of workings. They still had over 500 High Street outlets. As seen in other threads most companies are moving away from this type of model. It was the type of business which was highly suited to the internet. Yet they failed to take full advantage of it.

[blythburgh]

I agree Brexit was a very minor part in the collapse which was inevitable as they had not moved forward enough.

Feel for those who have lost out on holidays but far more so for the staff who have lost jobs and business abroad who will not get paid.

Some idiots were turning up at the airport saying they had not been told not to. Doh! do they not check news online or on tv or radio?

[kevinchess1]

‘Don’t Just book it...

[kevinchess1]

Carlsberg don't do holidays.....

......Neither do Thomas Cook.


Watching some of these people worrying about getting home after Thomas Cook went bust, some of the poor souls might even have to use Ryanair to get home.


What's the difference between Thomas Cook & Oggy?

You can laugh at Thomas Cook jokes

Looks like Thomas Cook will join
Woolworths
JJB Sports
Toys R Us
Blockbuster

On my CV as jobs where I've been manager

[Sarah]

Brexit isn't the only cause (their problems date back many years) but is more than a minor factor in the Thomas Cook collapse and Matt Hancock is certainly wrong to claim there's no connection at all. The company itself admitted the impact of Brexit when it announced £1.5bn losses back in May. It faced both falling demand and a 25% increase in € costs as a result of the crash in £ value.

https://www.independent.co.uk/news/busi ... 16061.html

[BeautifulSunshine]

Brexit isn't the only cause (their problems date back many years) but is more than a minor factor in the Thomas Cook collapse and Matt Hancock is certainly wrong to claim there's no connection at all. The company itself admitted the impact of Brexit when it announced £1.5bn losses back in May. It faced both falling demand and a 25% increase in € costs as a result of the crash in £ value.

https://www.independent.co.uk/news/busi ... 16061.html

We can always rely on Sarah to know the facts.

[Derbiean]

As much as I despise the tories this isn't on them the merger they did saddled them with so much debt they were never getting from under it plus this minor thing called the internet they simply didn't adapt to it. Also, the 200m wouldn't have bailed them out just merely give them a bit more time before the inevitable.