Thomas Cook owner "Arcandor" files for bankruptcy protection
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Thomas Cook owner "Arcandor" files for bankruptcy protection
Germany's Arcandor, which owns 52% of Thomas Cook, has filed for bankruptcy protection after the German government rejected a request for loan guarantees.
BBC NEWS | Business | Thomas Cook owner in bankruptcy
BBC NEWS | Business | Thomas Cook owner in bankruptcy
Good look to all you guys who fly for them Join Date: Jul 2002
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Thomas Cook is completley independent from Arcandor, the announcement will have no impact on financial position or operational performance. Listed seperately on the stock exchange, Thomas Cook is completley ring fenced.
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The trouble comes though when this sort of news is realised by the general public. The danger being that people stop booking holidays with TC. Would you book one in light of this bad news? I am not sure that I would.
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If the city thought that Thomas Cook was in financial trouble, the share price would have plummetted. As it was, when the news came out, the share price went up 10%. Last year, when fears started rising about Arcandor viability, the share price dropped to 125p. Today they are around 240p which shows that the city has confidence in the group. If Arcandor does go into administration, it means that a number of shares will come on the market, which looking at the TC groups latest market update and results, will make them an attractive proposition. Remember, it's not Thomas Cook group which is in trouble, it's one of it's larger shareholders. That is a different matter all together.
eng 123 I don't think you should have any worries about booking a holiday with Thomas Cook!
eng 123 I don't think you should have any worries about booking a holiday with Thomas Cook!
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its not "strictly" bad news for t.cook in the uk - it could bring in quite a lot of money - especially as arcandor will need to sell off its shares in a very profitable company.....
maybe T.cook will become British again!!
maybe the uk economy is going to pick up!!
maybe gordon brown will step down.....cant be that good though can it?
maybe T.cook will become British again!!
maybe the uk economy is going to pick up!!
maybe gordon brown will step down.....cant be that good though can it?
