Thomas Cook admits £200,000,000 blackhole that could leave 180,000 stranded

After 178 years, the firm could go bust this weekend

The situation is so serious that the Department for Transport and Civil Aviation Authority have set up Operation Matterhorn.

Many holidaymakers have already expressed concerns about the future of the company, but Thomas Cook social media staff tweeted ‘there is nothing to be worried about, all of our flights will be operating as normal and will be for many more years!’Despite this optimism, an industry expert said: ‘Unless the management team can point to a viable transaction soon, they have a clear legal duty to cease trading. To put it bluntly, they’re running out of options.

‘The recapitalisation is expected to result in existing shareholders’ interests being significantly diluted, with significant risk of no recovery. The Company will provide further updates in due course.’

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