British travel agency Thomas Cook faces imminent collapse unless a substantial amount of emergency cash is forthcoming – TheLiberal.ie – Our News, Your Views

British travel agency Thomas Cook faces imminent collapse unless a substantial amount of emergency cash is forthcoming




British travel agency Thomas Cook faces imminent collapse unless a substantial amount of rescue cash is raised over the next few days.

The 178-year old agency needs to raise £200m by Friday, September 27 to meet lenders’ demands and avoid bankruptcy. RBS, Barclays and Lloyds are among the entities demanding money.

The company employs about 20,000 people worldwide, 9,000 of those in the UK. Staff now face an uncertain future, to be decided soon.

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