Thomas Cook collapses

Darcydog · 23rd September 2019, 05:01

Sadly this has been on the cards for a while - another example of how our changing buying habits are having an impact.

mbev51 · 23rd September 2019, 06:21

Thousands of job losses.

Stevie25 · 23rd September 2019, 08:11

I feel for Thomas Cook and it's staff this morning, but European travellers with thanks to the EU travel directive from 2015 they'll be reimbursed all costs, this is the EU helping stricken travellers.
Boris Johnson, the people's PM, wants rid of this type of rule, red tape to him, and just read the heartless statement by the Government regarding a possible ‘bail-out’ of the Company.

Vossy · 23rd September 2019, 10:42

Agreed with all that's said, now, if Thomas Cook had been a bank that had been badly run ...

Another sign of the times, it is sad for all involved, I read the directors are under fire for the many millions they have taken out over the last few years in bonus's even though TC have been sailing very close to the edge.

clf · 23rd September 2019, 11:42

There is more to it than spending habits of consumers unfortunately. Poor investment (a lot of companies were caught out with this due to increased internet spending, when companies invested in property portfolios - high street presence for example, currys and jessops) and old generous pension schemes that needed propped up later in company life.

Quote:

Originally Posted by Stevie25

I feel for Thomas Cook and it's staff this morning, but European travellers with thanks to the EU travel directive from 2015 they'll be reimbursed all costs, this is the EU helping stricken travellers.
Boris Johnson, the people's PM, wants rid of this type of rule, red tape to him, and just read the heartless statement by the Government regarding a possible ‘bail-out’ of the Company.

Wow! That was quick!

But at a govt non EU level, why should my tax payments be used to prop up a mismanaged company when my nhs is failing? That is a simple answer to question and has been discussed many times ref the collapse of mgr, not to mention one that does not need to be raised to denigrate this into a political or EU topic of discussion.

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WillyHeckaslike · 23rd September 2019, 11:54

I think that any repatriations will take place courtesy of ATOL which has been around since the early 70s. Muggings should not have to pick up the tab for this if ATOL is properly run and properly funded by those who might benefit. Anything otherwise constitutes a subsidy which is not fair to muggings, many of whom will have never had and maybe never will have a foreign jolly. It is also very unfair to the UK's home-based venues and attractions which struggle to compete in the holiday and tourist markets.

Nick Greg · 23rd September 2019, 12:36

And remember, whenever booking holidays or anything that is "expensive" pay at least a deposit on your credit card or all of it as CC's offer great consumer protection against these things. Even if you just pay the deposit you can claim the whole purchase price back from the CC company. Personally I don't use my CC much at all except for this kind of thing. As has already been stated the management of Thomas Cook certainly don't seem to have helped in this sorry saga at all.

wraymond · 23rd September 2019, 13:23

This is awful for those on hols and the ordinary shop and ancillary staff. I don't give a tinker's cuss about the difficulties of the management though, they have already had their bonuses and perks and have also disposed of staff perks of £millions of low-priced share options.

This has absolutely nothing whatsoever at all to do with any form of government, anywhere and of any colour. Decisions and subsequent development taken in 2017 by other entities were, in fact, inferior to those that were already existing within UK jurisdiction. I wish posters would at least take trouble to offer creditable citations to verify comment.

If you are to protect Thomas Cook, why not Philip Green or that chancer the trainer shop guy? What tosh. The business model failed, that's all it is.

clf · 23rd September 2019, 13:36

Quote:

Originally Posted by Stevie25

Well that was what my post was about - the EU Directive - so it is a good idea then !

Bazaar, you really need to make your mind up - Good or Bad, it is not difficult!

What you were trying to do, was to interject without basis, how after brexit we as a nation would not have this protection of a particular eu directive. There is no reason to suggest that a GB directive would not be put into place to offer the same level of protection. (I believe similar protection existed in days before eu directives via abta anyway).

The sky is falling and we are all doomed..... hows that? Please just stop ...... please.

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Stevie25 · 23rd September 2019, 13:54

Quote:

Originally Posted by clf

What you were trying to do, was to interject without basis, how after brexit we as a nation would not have this protection of a particular eu directive. There is no reason to suggest that a GB directive would not be put into place to offer the same level of protection. (I believe similar protection existed in days before eu directives via abta anyway).

The sky is falling and we are all doomed..... hows that? Please just stop ...... please.

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‘The sky is falling and we are all doomed...’

You have taken this thread to a whole new level
There is me thinking that it is good for the Thomas Cook Travellers to have some reassurance in difficult times
Well before I get further trolled, I will not be posting any further comments on this thread.

23rd September 2019, 05:01	#1
Darcydog This is my second home Join Date: Jul 2014 Posts: 5,428 Thanks: 3,123 Thanked 3,170 Times in 2,096 Posts	Thomas Cook collapses Sadly this has been on the cards for a while - another example of how our changing buying habits are having an impact.

23rd September 2019, 11:54	#6
WillyHeckaslike This is my second home Rovers 75 & 25 Join Date: Oct 2010 Location: Wearside Posts: 4,522 Thanks: 543 Thanked 709 Times in 511 Posts	I think that any repatriations will take place courtesy of ATOL which has been around since the early 70s. Muggings should not have to pick up the tab for this if ATOL is properly run and properly funded by those who might benefit. Anything otherwise constitutes a subsidy which is not fair to muggings, many of whom will have never had and maybe never will have a foreign jolly. It is also very unfair to the UK's home-based venues and attractions which struggle to compete in the holiday and tourist markets. Last edited by WillyHeckaslike; 23rd September 2019 at 11:56..

23rd September 2019, 13:23	#8
wraymond This is my second home 75 Auto 2.5 SE Join Date: Feb 2010 Location: Westcliff on Sea Posts: 5,185 Thanks: 423 Thanked 1,680 Times in 1,014 Posts	This is awful for those on hols and the ordinary shop and ancillary staff. I don't give a tinker's cuss about the difficulties of the management though, they have already had their bonuses and perks and have also disposed of staff perks of £millions of low-priced share options. This has absolutely nothing whatsoever at all to do with any form of government, anywhere and of any colour. Decisions and subsequent development taken in 2017 by other entities were, in fact, inferior to those that were already existing within UK jurisdiction. I wish posters would at least take trouble to offer creditable citations to verify comment. If you are to protect Thomas Cook, why not Philip Green or that chancer the trainer shop guy? What tosh. The business model failed, that's all it is. __________________ member no. 235 Last edited by wraymond; 23rd September 2019 at 13:26..

23rd September 2019, 06:21	#2
mbev51 Banned Removed Join Date: Dec 2013 Location: Removed Posts: 1,343 Thanks: 171 Thanked 315 Times in 223 Posts	Thousands of job losses.

23rd September 2019, 08:11	#3
Stevie25 Loves to post Rover 75 Saloon Join Date: Oct 2014 Location: Bangor, NI Posts: 369 Thanks: 356 Thanked 148 Times in 87 Posts	I feel for Thomas Cook and it's staff this morning, but European travellers with thanks to the EU travel directive from 2015 they'll be reimbursed all costs, this is the EU helping stricken travellers. Boris Johnson, the people's PM, wants rid of this type of rule, red tape to him, and just read the heartless statement by the Government regarding a possible ‘bail-out’ of the Company.

23rd September 2019, 10:42	#4
Vossy Why? ... MG ZT+ Cdti Auto saloon. Join Date: Jul 2014 Location: Blockeswich, South Staffs Posts: 1,548 Thanks: 173 Thanked 483 Times in 330 Posts	Agreed with all that's said, now, if Thomas Cook had been a bank that had been badly run ... Another sign of the times, it is sad for all involved, I read the directors are under fire for the many millions they have taken out over the last few years in bonus's even though TC have been sailing very close to the edge.

23rd September 2019, 12:36	#7
Nick Greg Posted a thing or two Honda Insight Hybrid Join Date: May 2015 Location: Brighouse Posts: 1,157 Thanks: 691 Thanked 424 Times in 280 Posts	And remember, whenever booking holidays or anything that is "expensive" pay at least a deposit on your credit card or all of it as CC's offer great consumer protection against these things. Even if you just pay the deposit you can claim the whole purchase price back from the CC company. Personally I don't use my CC much at all except for this kind of thing. As has already been stated the management of Thomas Cook certainly don't seem to have helped in this sorry saga at all.