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Okay we got it, they have gone bust, we dont need every article in the world posted
Thomas Cook collapses after rescue negotiations fail
Hoteliers have been raising the prices of accomodation way to high, recently
Published at 0158:
Heading: Thomas Cook planes parked away from terminal
Another Mirror reader called Kirsten just shared this with us...
“I’ve just landed back in the last hour from Skiathos to Manchester airport.
“Very sad having the plane park in line away from the terminals next to many more Thomas Cook aircraft.
“Crew very emotional as we landed unsure on what they are landing back to.
“All passengers whispering about it being there last ever flight with Thomas cook and what is going on. Just everybody feeling the sadness that is happening.”
Compulsory liquidation of Thomas Cook Group plc September 23, 2019
Further to the announcement made on 20 September 2019, Thomas Cook Group plc (“the Company”) continued to engage with a range of key stakeholders over the weekend in order to secure final terms on the recapitalisation and reorganisation of the Company.
Despite considerable efforts, those discussions have not resulted in agreement between the Company’s stakeholders and proposed new money providers. The Company’s board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect.
An application was made to the High Court for a compulsory liquidation of the Company before opening of business today and an order has been granted to appoint the Official Receiver as the liquidator of the Company. We anticipate that the Official Receiver will make an application to the High Court for members of AlixPartners UK LLP to be appointed as Special Managers in respect of the Company, to act on behalf of the Official Receiver, and we further anticipate that an order will be granted to that effect. As part of this process, a number of other Thomas Cook Group companies have also entered into compulsory liquidation, with members of either AlixPartners UK LLP or KPMG LLP (depending on the company) being appointed as Special Managers in respect of the relevant Group companies.
We expect that AlixPartners UK LLP will now work very closely with the Civil Aviation Authority in the UK, to effect the repatriation of all UK customers impacted by this announcement.
Peter Fankhauser, Chief Executive of Thomas Cook commented:
“We have worked exhaustively in the past few days to resolve the outstanding issues on an agreement to secure Thomas Cook’s future for its employees, customers and suppliers. 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.
“It is a matter of profound regret to me and the rest of the board that we were not successful. I would like to apologise to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years. Despite huge uncertainty over recent weeks, our teams continued to put customers first, showing why Thomas Cook is one of the best-loved brands in travel.
“Generations of customers entrusted their family holiday to Thomas Cook because our people kept our customers at the heart of the business and maintained our founder’s spirit of innovation.
“This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world.”
The Company has requested that its ordinary shares be suspended from listing on the premium segment of the Official List of the FCA and from trading on the main market of the London Stock Exchange with immediate effect.
For press queries r
Thanks for that, @seac.
More here: https://www.mirror.co.uk/news/uk-news/thomas-cook-live-updates-british-20147529#344041
Talks fail and shareholders get nothing as the shares are delisted.
The ‘joys of share trading’.
I see no glorying in peoples misery. In fact, illbetabuck may have saved investors a lot of money.
Re “No doubt you will rest in a very hot place on Judgment Day” - it’s 2019 not 1019.
Thomas Cook UK Plc and associated UK entities have entered Compulsory Liquidation and are now under the control of the Official Receiver.
The UK business has ceased trading with immediate effect and all future flights and holidays are cancelled.
A dedicated support service is being provided by The Civil Aviation Authority to assist customers currently overseas and those in the UK with future bookings.
for further information.
And Sky news
Seems like no choice now, BBC reporting it is all over. Awful for all those who lose their jobs. However surely the UK goverment could have prevented this, instead they will now spend £millions bringing people home
As per my post little further down. Is Kockar just going to write off his £10 million investment?
In the article below he said he has no interest in trading the shares so I think he still holds them all.
So just a few weeks ago an experienced businessman in the holiday sector thought Thomas Cook could be saved and was willing to invest (bet / gamble) £10m?
No you’re not. You’re not a shorter, just a spread better and a small one at that no doubt so don’t pretend otherwise.
9,000 loyal UK staff have just lost their jobs.
I struggle in life to find why morons like you glory for a few pennies in peoples misery. Says a lot about you. No doubt you will rest in a very hot place on Judgment Day.
Best of luck to all those staff who have lost their jobs and those holiday makers that have had their travel plans ruined supporting a 178 year old British iconic company. You’re victims of horrendous management for a long time and the leeches that pray on ailing companies for financial reward.
And now, the end is near
And so I face the final curtain (Ha ha ha!)
Pretty strong evidence, Manchester airport have seized the aircraft.........holy smoke.
Very sad news. Did Turkish investor Neset Kockar sell up or is he still a big holder? I know the shares rallied a month or so ago when he secured a 6.71% stake taking his holding two 8.01%.
In theory he will be wiped out just the same as any other shareholder. Will be interesting to see what happens there...
For shareholders it's over.....
07:30 suspension, and later in the day delisting.
In administration shareholders get nothing, the only hope is the government stepping in, and pigs might fly.
The ships going down, there’s nothing to rescue this company now. Times are hard.
"9,000 staff will lose their jobs with immediate effect."
that can happen - however there are various ways to mitigate this for the short term anyhow or even just novate them as an interim measure
but really feel sorry for the staff - they would have been treated like mushrooms by the bod and hr
I’ve since seen that Quisty has already posted a link to the same article in the thread “All over now”. Apologies for the duplication.
Quisty, sorry. I posted a link to this article before reading this thread containing your comment about the same article.
The article also features an ominous video of Peter Fankhauser leaving the law firm via the loading bay and not answering journalists’ questions.