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Thomas Cook collapses – last-minute negotiations fail

Thomas Cook has collapsed after last-minute negotiations to save the 178-year-old holiday firm failed.

It has been estimated that 150,000 Britons are affected by Thomas Cook’s collapse, the company has about 600,000 customers currently abroad.

If you have an ATOL protected booking with Thomas Cook, that includes flights operated by the Thomas Cook Group your holiday is now cancelled and you should not go to the airport. They are making arrangements for refunds to be made on these bookings as soon as possible. They will be providing more information their website on the refund arrangements by 30th September 2019.

Thomas Cook are recommending people visit for further information. There is a very good detailed post (here) on MoneySavingExpert about what people should do next. In the vast majority of cases if you have a package holiday booked with them you should be covered, and will get your money back.

Martin Lewis founder of MoneySavingExpert said “For those who’d booked future trips, ATOL and ABTA schemes should mean full refunds, but some, especially those who booked flights only, may be unprotected. Travel insurance won’t help for most, as travel company failure cover is rarely included as standard – though check your policy or give them a call”

The Thomas Cook website’s have been taken offline and replaced with a single page advising people what to do next.

Notice on main Thomas Cook website
Notice on Thomas Cook Airlines website

Thomas Cook’s main website says: “Thomas Cook UK Plc and associated UK entities have entered compulsory liquidation and are now under the control of the official receiver. The UK business has ceased trading with immediate effect and all future flights and holidays are cancelled.”

The firm’s chief executive, Peter Fankhauser, said: “Despite huge efforts over a number of months and further intense negotiations in recent days, we have not been able to secure a deal to save our business. I know that this outcome will be devastating to many people and will cause a lot of anxiety, stress and disruption.”

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