Thomas Cook Group plc filed for bankruptcy on Sunday evening after negotiations were unable to resolve the company's financial problems.Credit: Wikimedia Commons
Thomas Cook’s Belgian activities will continue to operate for some time, despite the British global travel group declaring bankruptcy on Sunday evening.
Thomas Cook Group plc declared bankruptcy on Monday morning in a press release after negotiations on Sunday failed to resolve the company’s financial problems.
“Although a deal had been largely agreed, an additional facility requested in the last few days of negotiations presented a challenge that ultimately proved insurmountable,” said the Chief Executive Officer, Peter Fankhauser in a press release.
We are sorry to announce that Thomas Cook has ceased trading with immediate effect.