The German arm of the failed Thomas Cook travel giant said Tuesday it was in talks with potential creditors and the government on a rescue deal
BERLIN (Pakistan Point News / Sputnik - 24th September, 2019) The German arm of the failed Thomas Cook travel giant said Tuesday it was in talks with potential creditors and the government on a rescue deal.Thomas Cook, a UK-based travel operator, collapsed into bankruptcy on Monday, stranding over 600,000 clients and prompting the biggest peacetime repatriation of British travelers.
"The German management is conducting intensive talks with potential creditors and all relative government bodies in Berlin and Wiesbaden to allow Thomas Cook GmbH to continue [operations]," the statement read.
The business said the collapse of its parent company had left associated German firms in a "critical state," and a failure to secure a lifeline from the government would force it to file for bankruptcy.
An estimated 140,000 German holidaymakers have been affected by Thomas Cook's liquidation, according to the Handelsblatt business daily. An additional 21,000 were to go on holiday on Tuesday and Wednesday.
