Press "Enter" to skip to content

UK travel giant Thomas Cook Stinks

British traveling giant Thomas Cook announced bankruptcy on Monday after failing to achieve a last-minute rescue bargain.

The 178-year-old operator was hunting #200 million ($250 million) from private investors to save it from collapse.

“Despite significant efforts, these talks haven’t led to agreement between the organization’s stakeholders and suggested new cash suppliers,” Thomas Cook said in a statement.

“The organization’s board has so concluded that it had no option but to take action to enter into compulsory liquidation with immediate effect.”