Britain's Thomas Cook scrambles for £200 million to avert collapse

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Britain's Thomas Cook scrambles for £200...
 © KNEWS 2019
Britain’s Thomas Cook needs to find an extra 200 million pounds to satisfy its lenders or one of the world’s oldest holiday company risks collapse, potentially stranding thousands of holidaymakers across Europe.

Demand for an extra funding facility puts that deal at risk, as well as the jobs of Thomas Cook’s 21,000 employees and the holidays of 600,000 customers, mostly from Germany, Britain and Scandinavia. Thomas Cook said the recapitalisation posed “a significant risk of no recovery” for the diluted shareholders. Shares in the company hit a record...


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Britain's Thomas Cook scrambles for £200 million to avert collapse


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