[nomadking]

Originally Posted by Mr K

Hate to mention the 'B' word, but it was a factor. https://speakerpolitics.co.uk/analys...ge-of-collapse

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The firm's fate was sealed by a number of factors: financial, social and even meteorological.
As well as weather issues, and stiff competition from online travel agents and low-cost airlines, there were other disruptive factors, including political unrest around the world.
In addition, many holidaymakers had become used to putting together their own holidays and not using travel agents.
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In May, Thomas Cook reported a £1.5bn loss for the first half of its financial year, with £1.1bn of the loss caused by the decision to write down the value of My Travel, the business it merged with in 2007.

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Thomas Cook’s collapse is not because the British have stopped taking holidays. Far from it: 60% of the population took a holiday abroad in 2018, up from 57% the year before. It is how we are taking holidays that has changed, with the number of city breaks now significantly outstripping beach holidays.
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Just one in seven of us now pop into a high street travel agency to buy a holiday, according to travel agent trade body Abta. Those who do tend to be over 65, and in lower socio-economic groups, with less money to spend.
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Thomas Cook only narrowly survived a near-death experience in 2011. Its debt pile had already reached £1.1bn, and it stayed afloat only after an emergency additional cash injection - but it also meant even more debt to service