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Thomas Cook’s woes have worsened significantly, after hopes of a rescue fund coming from private investors all but faded on Friday evening.
The company had been in talks with hedge fund CQS, hoping to secure emergency cash to the tune of £200m. CQS is said to have walked away at the last minute, however, leaving Thomas Cook open to imminent collapse.
Up to 180,000 people may become stranded abroad if Thomas Cook goes into administration, prompting fears of a massive repatriation operation.
