In the early hours of Monday 23rd September Thomas Cook ceased trading.
Councillor William McCandless said ‘ With headline grabbers such as
“Firms collapse leaves 150,000 stranded abroad”
“178 year history brought to an end”
“Biggest peacetime repatriation for British holidaymakers”
“Government allows Thomas Cook to collapse”
all scream for our attention, I am considering the people who have agonised all weekend and have woken up this morning to the realization that they are another High Street casualty and the harsh reality that they don’t have a job.
The worlds best known name in travel Thomas Cook started in 1841 offering a one day rail excursion at one shilling a head from Leicester to Loughborough and in 1855 commenced offering tours to the European mainland.
We were all familiar with their strap line “ Don’t just book it, Thomas Cook it. “
On the current stock market we see there is no room for sentiment in business with companies such as TUI and Easy Jet shares strengthening, with one less competitor prices can potentially be increased.
Comments such as liquidation could have been avoided and it would have been cheaper than having to pick up the pieces are cold comfort to customers already abroad and those yet to travel and employees of Thomas Cook. I am genuinely sorry for those affected in our local Coleraine branch, I have used their services and have always found their staff to be knowledgeable, courteous and efficient.
Sadly the decline of our High Streets continue. The first six months of 2019 saw on average 16 stores closing on a daily basis on our top 500 U.K. High Streets, mainly due to restructuring and the online migration of shopping and services.
Extremely sad when an institution like Thomas Cook is the latest victim.’
Business Secretary Andrea Leadsom said she would write to the Insolvency Service to ask them to “fast-track” their investigation into the circumstances surrounding Thomas Cook going into liquidation.
The investigation will also consider the conduct of the directors, the Department for Transport said.
Leadsom said: “This will be a hugely worrying time for employees of Thomas Cook, as well as their customers. Government will do all it can to support them.
“I will be setting up a cross-government taskforce to monitor local impacts, will write to insurance companies to ask them to process claims quickly, and stand ready to provide assistance and advice.
“I will also be writing to the Insolvency Service to ask them to prioritise and fast-track their investigation into the circumstances surrounding Thomas Cook going into liquidation.”