Change, debt, Brexit sank tour company

By

News

September 23, 2019 - 9:48 AM

FRANKFURT, Germany (AP) — British tour operator Thomas Cook fell victim to multiple setbacks including shifting travel habits, the rise of online booking sites, the sinking pound and even unusually hot weather that encouraged fewer Northern Europeans to travel.

Specific problems of its own, like a $2 billion debt pile, made it less able to react to change.

It all added up to a perfect storm that led the 178-year-old company to cease operations early today, stranding hundreds of thousands of travelers.

Related
September 25, 2019
April 2, 2019
January 10, 2019
July 11, 2018