Thomas Cook going into Administration!

Jon

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I just can't believe it!

They've been around since FOREVER. All they have to do is sell rooms in resorts that they don't own for a profit (or seats on planes!)

I imagine there is going to be a lot of upset from this. I know the MAIN time these companies actually make money in May-September and so they need a bankroll to keep them going through the other months (which is why you see places like Florida advertised to heavily as they can always sell holidays to there compared to other parts of Europe or whatever) but people will have paid up for their 2020 holidays already, let along ones that are left to go in 2019!

I only walked past their Leeds city centre branch the other day and it was selling holidays as normal to people in there!
 

Karonher

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Andy Burnham has just been asking the government to bail them out in order to protect jobs. The problem is they could be in the same place this time next year. I wonder who would buy a holiday with them over the last few days with the reports that there have been.
 

Jon

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Andy Burnham has just been asking the government to bail them out in order to protect jobs. The problem is they could be in the same place this time next year. I wonder who would buy a holiday with them over the last few days with the reports that there have been.
yeah no holiday insurance would payout because they would say the holiday was bought when you knew they were already in trouble.

Why the heck should the tax-payer be having to get them out of this pickle? It's not our fault directors/managers have miss-managed money!!!
 

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yeah no holiday insurance would payout because they would say the holiday was bought when you knew they were already in trouble.

Why the heck should the tax-payer be having to get them out of this pickle? It's not our fault directors/managers have miss-managed money!!!
It has been estimated the cost of re-patriation is £600m and the bailout is £200m. So to bail them out would 'save' the tax payer £400m.

But they aren't a bank
Or the motor industry

So the government wont do shit.
 

Jon

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I like how one of the things they are blaming for their collapse is the heatwave last summer?!?!?!?!
 
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SarahLillico

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This is just awful! I really feel for anyone affected.

We’ve lost so many well know companies over the last decade, companies that I’d would never in a million years thought would fold.

It makes you think twice before buying anything in advance, just in case the company folds!
 

Jon

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Flight prices are ALL OVER the place at the moment.

For reason I won't bore you with on here we've had to move to November 2019 trip to Florida to Sept 2020 and while Disney / Attraction Ticket Direct have been great about the move with Virgin Atlantic we've got to pay £300 just to move the two of us to another flight which takes the piss because they are just going to resell our existing seats anyway!

But.... Looking at Sept 2020 prices at the moment and they are all over the shot due to what I assume is the 'Thomas Cook effect'
 

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I suppose I was one of the lucky ones in comparison to many. I had Thomas Cook flights to Tenerife for 15th October, and had accommodation through Booking.com. The apartment refused any refund, and travel insurance doesn't cover airline collapse. I will probably get my flight money back through credit card, but had to book alternative flights that cost me £230 extra as prices rose to take advantage. I also have to drive nearly 4 hours to Stansted instead of flights an hour away from Newcastle.

The people I feel sorry for are Thomas Cook staff who have lost their jobs while The CEO walks off with his big fat bonus and no doubt straight into another top job as a reward for failure.
 

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We’ve lost so many well know companies over the last decade, companies that I’d would never in a million years thought would fold.


The way we buy things and trends has changed so much. Carpet companies going under as wooden floors are so popular and high street shops closing as a result of online buying.
 

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Yeah I feel so sorry for people affected...particularly those who have lost their livelihoods, trapped in hotel resorts or were going on holiday for a special occasion.

I agree the way we buy things (as well as a lot of other causes!) has got have an impact, but I also think the high street is its own worse enemy. They tend to close at 5pm in the week and a vast proportion of the working population (like me) have to battle it out at the weekends...and then think we can't be bothered with that lets order it online!
 
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Jon

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Yeah I feel so sorry for people affected...particularly those who have lost their livelihoods, trapped in hotel resorts or were going on holiday for a special occasion.

I agree the way we buy things (as well as a lot of other causes!) has got have an impact, but I also think the high street is its own worse enemy. They tend to close at 5pm in the week and a vast proportion of the working population (like me) have to battle it out at the weekends...and then think we can't be bothered with that lets order it online!
100% with you here

When I used to have a job and then the ONLY time I could go into town to shop was at the weekend used to drive me mad on a Saturday as Leeds is RAMMED (even more so at Christmas!)

Or I can order online and just have the stuff delivered to my house no matter what the day of the week..
 

Jon

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well it seems Hays travel (????) have bought all the outlets. They don't own an airline or hotels so People will be going past those old Thomas Cook stores and see weekends away in Blackpool or northern France being advertised.

Not sure this is such a good move for Hays
 

homie

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well it seems Hays travel (????) have bought all the outlets. They don't own an airline or hotels so People will be going past those old Thomas Cook stores and see weekends away in Blackpool or northern France being advertised.
Not sure this is such a good move for Hays
Sounds like a terrible idea. Why would they want to take on the liabilities of all those high street shops when most of the world are booking their holidays online?
 

Jon

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Sounds like a terrible idea. Why would they want to take on the liabilities of all those high street shops when most of the world are booking their holidays online?
I know it just baffles me. Even if they negotiate REALLY low rents from the landlords the same problem are going to occur in a year or two when even LESS people are in the high street!
 

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