Thomas Cook has failed to find the money it needed to save itself from compulsory liquidation.
The Insolvency Service has confirmed this morning that that winding up orders were made against Thomas Cook Group plc and associated companies. All Thomas Cook bookings, including flights and holidays, have now been cancelled. All of Thomas Cook’s retail shops will close with immediate effect.
This will be a hugely worrying time for employees of Thomas Cook, as well as their customers. The Government has said it will do all it can to support them.
All Thomas Cook bookings, including flights and holidays, have now been cancelled. All of Thomas Cook’s retail shops will close with immediate effect.
The government is now working with the UK Civil Aviation Authority (CAA) to help passengers return to the UK. Depending on your location, this will be either on CAA-operated flights or by using existing flights with other airlines. This will apply to both ATOL protected passengers and those who are not protected.
If you are customer due to depart from a UK airport with Thomas Cook Airlines, please do not travel to your UK airport as your flight will not be operating and you will not be able to travel.
Passengers with ATOL protection who are yet to travel are entitled to a full refund on any future bookings. Customers without ATOL protection should speak to their credit card provider or the company they booked their holiday with. You can also speak to your travel insurance provider to see if you are able to claim back any of their costs.
If you work for Thomas Cook and have been told that you are being made redundant, the Insolvency Service has advice about claiming money you’re owed and information about where you can seek support.
The Insolvency Service website provides further detail about how to apply and how your claim will be paid.
The government’s Jobcentre Plus Rapid Response Service stands ready to help people find a new job as soon as possible by offering tailored support.
The government also intends to convene a cross-government taskforce to support employees, alongside local stakeholders. The taskforce will consider existing support schemes and will also monitor the impact on local businesses.
The Business Secretary will write to the Insolvency Service to ask them to prioritise and fast-track their investigation into the circumstances surrounding Thomas Cook going into liquidation. The investigation will also consider the conduct of the directors.
Business Secretary Andrea 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.”