Thomas Cook asks government for bailout in funding race
Thomas Cook has approached the government in a bid to plug the gap in funding it needs to satisfy lenders.
The travel company could fall into administration this weekend unless it finds £200m in extra funds needed to secure its future.
Banks, including RBS and Lloyds, insist the firm comes up with the new contingency funds in case it needs extra money during the winter months
I can't imagine that the government will bail out Thomas Cook, a travel agency, so it looks like this firm will collapse in the next day or so. Anyone ever used them?
With the use of direct bookings over the internet, is is simply the case that travel agents are now past their used by date?