Long-established package holiday firm Thomas Cook is facing a £200m black hole in its finances, prompting grave fears about the company’s future.
The situation is so dire that stakeholders have been told that there’s a strong chance of ‘no recovery’.
Thomas Cook has been trading for almost 180 years. If it were to collapse today, up to 20,000 jobs might be lost, and around 180,000 holidaymakers would be stranded abroad.