Thomas Cook is dead and 150,000 UK holidaymakers are stranded.

Major travel operator Thomas Cook (TCG.L) has finally collapsed after months of trying to seal bailout cash from Chinese conglomerate Fosun as well as from a number of other firms.

It has immediately ceased to trade, leading to 150,000 UK holidaymakers stranded abroad and the biggest ever peacetime repatriation of British people.

“Thomas Cook’s collapse is very sad news for staff and holidaymakers. The government and UK CAA is working round the clock to help people. Our contingency planning has helped acquire planes from across the world – some from as far away as Malaysia – and we have put hundreds of people in call centres and at airports,” said transport secretary, Grant Shapps.



By Lianna Brinded.
Full story at Yahoo News.