Are Thomas Cook Going Bust?


Although a spokesman for Thomas Cook told In2town Travel Magazine earlier this year that they are not going bust and customers should not be alarmed, it seems Thomas Cook are now once again in serious trouble.

When we first reported Thomas Cook were going bust, they managed to negotiate a £200 rescue loan which they planned to pay back over 12 months. Now, September 2019 sees the travel agent in serious trouble again.

Although Thomas Cook are still saying holidaymakers should not worry, and they should have confidence in the High Street Travel agent, it seems the consumer is not that convinced.

We spoke to one hundred holidaymakers to ask them if they thought Thomas Cook would go bust and 65 of them said yes. When we asked if the thought of Thomas Cook going bust put them off booking a holiday with the 178-year old tour operator, 98 of those people asked said yes.

It seems no matter what positive marketing Thomas Cook are currently doing, consumers have lost confidence in them.

When we contacted Thomas Cook to ask if they were going bust, we received no response. Maybe, that is down to them being busy trying to gain another rescue package to keep them afloat.

Thomas Cook were due to hold a crunch creditor vote, but they have delayed that until next week in the hope they can find a £1.1bn rescue package.

The chances of someone coming in and buying the tour operator are slim with the mounting debt they have and the intense competition. Other factors that has caused problems for Thomas Cook is the heatwave and Brexit.

Thomas Cook who employs 20,000 staff with 9,000 in the UK succeeded in their courtroom application on Monday to put off a creditors vote.

Some travel experts predicted last year that Thomas Cook would go bust, and it seems now with all the problems and the debts that Thomas Cook could be no more.