(Adds response from Dept for Transport, Thomas Cook)
Sept 21 (Reuters) - Britain's Thomas Cook Group Plc
has approached the UK government for a bailout in an attempt to
save itself from collapse after its lenders threatened to pull
out of a proposed rescue deal, the Financial Times reported late
on Friday.
The move comes after the British travel firm's stakeholders
requested an extra 200 million pounds ($250 million) in talks to
finalise the restructuring plan.
The company, which employs about 21,000 people, was locked
in talks with "multiple" potential investors, including the
government, to provide the additional 200 million pounds, the FT
reported https://on.ft.com/2NrDelH, citing two people briefed on
the situation.
"We do not speculate on the financial situation of
individual businesses," a spokesperson for Britain's Department
for Transport said in a statement.
Thomas Cook said it had no comment on the FT report.
The last-minute demand for additional funding puts the 900
million pound recapitalisation plan agreed by the company with
its Chinese shareholder Fosun last month at risk, the
company said earlier on Friday.
Thomas Cook, one of the world's oldest holiday companies,
could leave hundreds of thousands of holidaymakers stranded if
it fails to find funds.
Founded in 1841, Thomas Cook has struggled in recent years
under intense competition in popular destinations, high debt
levels and an unusually hot summer in 2018 which reduced
last-minute overseas bookings.
($1 = 0.8014 pounds)
(Reporting by Bhargav Acharya in Bengaluru; editing by Giles
Elgood)
