Blog post -

The mysterious case of Thomas Cook's collapse

Travel company Thomas Cook shocked everyone when they recently announced they were filing for bankruptcy, leaving 150,000 of its customers waking up in foreign countries without a ride home.

It was not a victim of late payments as it had a lot of customers who paid upfront for their holiday packages. But it still went bust.

Surprisingly, the company actually ran out of cash.

RIABU's Mark Laudi and Simon Littlewood discuss the real reasons why Thomas Cook went under.

Click here to listen to the full podcast.

Topics

  • Business enterprise, General

Contacts

Mark Laudi

Press contact Managing Partner (+65) 6223 2249

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The Thomas Cook collapse, and its lessons for suppliers

Travel agency Thomas Cook’s shock collapse in September has led to 600,000 customers being left overseas without a ride home, including 150,000 British tourists and about 300,000 Germans. Awaiting a fate as bad as the stranded customers are the suppliers that are waiting for payment from Thomas Cook that may or may never arrive.