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

Blog post - 1 October 2019 09:30

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.

Subjects

Contacts

Mark Laudi

Press contact Managing Partner mark.laudi@riabu.com (+65) 6223 2249

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.

Be first in line to get paid

RIABU is an information portal that provides suppliers insights into the payment track record of customers.

RIABU

138 Robinson Road, Oxley Tower Lobby 1

068906 Singapore

Singapore

Website

Podbean