UK’s business committee to investigate Thomas Cook collapse | Malay Mail

Pedestrians walk past a branch of a Thomas Cook travel agent's shop in London July 12, 2019. — AFP pic

LONDON, Sept 26 — The British parliament’s business committee has launched an inquiry into the collapse of travel group Thomas Cook and will seek to question the management over issues such as executive pay and accounting practices. Thomas Cook, the world’s oldest tour operator, collapsed in the early hours of Monday, hitting hotel owners, tourist sites and resorts around the world. It also prompted the British government to launch the largest peacetime repatriation in history.

“The main players in the sad demise of Britain’s oldest travel firm should face public scrutiny and be held to account for their actions before the company collapsed,” said Rachel Reeves, Chair of the Business, Energy and Industrial Strategy Committee.“Directors will welcome the opportunity to set the record straight and demonstrate that their conduct was always in the best interests of Thomas Cook’s customers, employees and stakeholders,” a person familiar with the company told Reuters.

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UK says bailing out Thomas Cook would have thrown ‘good money after bad’ | Malay MailLONDON, Sept 24 — The British government decided there was no point bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, the business minister said today. “There are all sorts of rumours...
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UK says bailing out Thomas Cook would have thrown ‘good money after bad’ | Malay MailLONDON, Sept 24 — The British government decided there was no point bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, the business minister said today. “There are all sorts of rumours...
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