600,000 people stranded around the world when Thos Cook goes belly up over nite..(I couldn't believe the number either!!!)...after being in biz for 178 years...which means less than nothing. thousands unemployed, and every one else left to shift for themselves, thousands of miles from home. There are no words.

13 Answers

Sad indeed. I hope the vacationers have travel insurance. Didn't I read somewhere the UK govt was stringing together 1000 flights to bring the stranded tourists back home to the tune of milllions of dollars?

Yes. that accounts for some of the UK passengers....assuming of course they can prove it. the rest...all around the world? bah....sad scenes of thousands of people at airline counters all around the world....incredible. as for travel insurance?? why do I think most of those folks will get screwed somehow, even if they do have it. ..

I am sure there will be legal happenings around the world. If there is any money in the company, it won't be there for long. Sad state of affairs for those taking that "trip of a lifetime". But the stories that will be told....Surprised

Unfortunately things do happen and not always for the best. I feel bad for those affected by this and hope that all are able to make it home and that those with trips planned do not loose everything and are able to make alternative arrangements. Apparently this was not a surprise to some and the writing has been on the wall for 5 years or more. Really makes one think when something like this happens.

When I first saw the name it made me remember my first trip across the pond to EU some 45 years ago. In those days you would take travellers cheques with you to keep your money secure. The gold standard for travellers cheques at that time ... yep ... Thomas Cook

They went into bankruptcy. anyone who gave them $$ for future trips now has that money, whats left of it, in limbo for years. whatever assets they have that aren't subject to prior liens will be sold. it'lll take years to sort it out. the lawyers make $$, everyone else is screwed. I used to buy AMEX Travelers Checks back in the day. Ah, memories.

Those poor people! I'm sure some of then were on the "trip of a lifetime" and had spent months, if not years planning and saving. I would just freak out if I were stranded in a foreign country! Many people budget just enough for the trip--not for an emergency like an extra plane ticket or extra hotel stays!

Those "Customers" who are stranded in limbo because of this event, really need a bit of support right now. The governments will do their best to get the folks back home. The bigger question will be How did they get such huge debt without the shareholders taking notice? I mean, there a BILLIONS of debt, yet the executives all received bonuses. Much more to this story.

The shareholders did notice, considering what the stock was selling for. ...but not was listed on the UK and German Exchanges. for a quick history worth reading if you're curious, go to WIKIPEDIA for THOMAS COOK....5 minutes of read will explain it. They were trying to sell themselves up to the last minute, but their planes were being impounded. As for salaries and bonuses, don't start me off on how the characters on mahogany row operate. THAT'S the same world over. Did I read that right? 30,000 employees??? 9k in UK? this may be back page news here, but for sure not there!!!

Sad indeed for the travellers and more so for the employees who are now out of work. The employees pensons, benefits, etc are gone. It amazes me how in cases like this that top executives get their bonus/severance checks but the common person gets screwed over. Gov'ts of the world have to correct this.

The WHAT of the world? Those peeps probably have been shorting this for years. Talk about making a fortune on the misery of others. The Brits knew all about it and let it happen.

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