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Thomas Cook crisis: Hedge funds made record profits on company's collapse as firm folded

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INTERNATIONAL hedge funds who shorted Thomas Cook shares have made enormous profits from its collapse by betting against the travel giant’s efforts to find a deal to save the world’s oldest travel operator from going bust.

Two hedge funds, London-based TT International and Whitebox Advisers, from Minneapolis – made up the bulk of the shorts, together holding around 7 percent, according to ShortTracker data.share price, which plunged 85 percent in the six months before Sunday’s collapse.

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They saw it coming, just like the bosses at TC who creamed off bonuses and continued taking bookings knowing the inevitable would eventually happen.

Good on them. They made a bet. They won. ThTs what their business is

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