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Why did Thomas Cook collapse after 178 years in business?

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Woeful merger, sky-high debts and internet revolution all left the venerable firm struggling

Why did Thomas Cook fail after 178 years in business? The immediate answer is that it was unable to secure a £200m lifeline from its bankers, including government-owned RBS.

 

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Because of old age ....

Brexit

Clarksons, Freddie Laker and credit cards

The EU

The internet.

Easy Jet.

Greed at the top. Mismanagement at the top. Exchange rate crash. Brexit uncertainty. Changing consumer habits. Warmer UK summers. Probably in that order.

Brexit

Brexit. Next...

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The Thomas Cook bosses who received £20m in bonuses in last 5 years as company collapsedThomas Cook executives have been paid more than £20 million over the last five years, despite long term fears that the operator faced collapse. Yeah typical. But they will try and spin it to be brexit related to play into the hands of the remainers Would giving the bosses bigger tax cuts have saved the company?
Source: The Telegraph - 🏆 41. / 63 Read more »