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Thomas Cook races to raise extra £200m to secure rescue deal

Thomas Cook races to raise extra £200m to secure rescue deal
Friday 20
3:41 2019

The future of Thomas Cook is hanging in the balance as the travel company scrambles to raise an additional £200m to secure an emergency rescue deal. Britain’s oldest package-holiday firm must secure the funds before a crucial meeting next Friday after a last-minute demand from its lenders, which include about 10 banks led by RBS, Barclays and Lloyds. In the past fortnight, the banks told Thomas Cook it needed the extra money as a contingency to see it through the winter, on top of a £900m package that was close to being finalised. If the company cannot secure the extra ...

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Read more from The Guardian : Thomas Cook races to raise extra £200m to secure rescue ...
The Guardian : Thomas Cook races to raise extra £200m to secure rescue deal

Summary: The future of Thomas Cook is hanging in the balance as the travel company scrambles to raise an additional £200m to secure an emergency rescue deal. Britain’s oldest package-holiday firm must secure the funds before a crucial meeting next Friday after a last-minute demand from its lenders, which include about ...

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