thomas cook

Debt Problems Mount for Thomas Cook

2011-12-19 by Aleksandr Shatskih

For the British tour operator Thomas Cook, things seem to be going from bad to worse as it struggles to reduce its reported £1 billion debt. On the back of an announcement that it’s planning to close one sixth of its 1,300 travel agents in the UK, the company has now reported pre-tax losses of £398 million after it was hit by a number of damaging writedowns totaling over half a billion UK pounds.

Thomas Cook Buys Time With Spain Divestiture

2011-12-14 by Aleksandr Shatskih

Beleaguered Thomas Cook has unloaded gold and hotel business in Spain to help slash debt which has crippled their business of late. The 170 year old company will be selling their stake in Hoteles Y Clubs De Vacaciones for a reported £72 million. The news comes in advance of delayed Thomas Cook annual results which will almost certainly spur massive store closings and job losses.

Thomas Cook Woes Widen

2011-11-25 by Aleksandr Shatskih

One of the world’s most venerable travel companies, Thomas Cook, appears to be on the ropes. The tour operator, second largest in Europe, saw its shares sink 75 % at close, on top of other company troubles.

Thomas Cook Celebrates 170th Anniversary

2011-07-14 by Aleksandr Shatskih

If you’ve ever wondered how travel companies like Thomas Cook got so prominent, last weeks 170th anniversary of their founders holidays should be a clue. Thomas Cook’s first hosted tour, a train ride with 500 demonstrators back in 1841, launched maybe the world’s most respected holiday travel company.

Thomas Cook to Cut 500 Positions in UK

2010-12-01 by Mihaela Lica Butler

Thomas Cook will cut 500 managerial and support jobs in the UK, in addition to renegotiating supplier costs and reducing its buying requirements, and upgrading its IT infrastructure.