British travel group Thomas Cook collapses, forcing the U.K. to help thousands of vacationers return home in what will be the largest repatriation in its peacetime history
The 178-year-old company has been under pressure from lenders to find an additional $249.5 million to prevent the collapse of a rescue dealThomas Cook Group PLC, the 178-year-old British travel company, collapsed after failing to conclude a rescue deal with investors and creditors, forcing the U.K. government to repatriate tens of thousands of travelers and putting thousands of people out of work.
The company said Monday it had entered compulsory liquidation and was under the control of an official receiver, a civil servant who will help liquidate the business. It said all its businesses, including Thomas Cook Airlines, have ceased operations and all future bookings...
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