Struggling holiday firm locked in £750m rescue talks

Holiday firm Thomas Cook is in £750m rescue talks with the banks and its largest shareholder Fosun. The travel firm, who’s airline business is based in Manchester, has been struggling with falling bookings and the uncertainty surrounding Brexit. The firm said the ongoing uncertainty contributed to a £1.5bn half-year loss that it reported in May. The rescue deal would see the Chinese investor Fosun buy the firm's tour business. Chief executive Peter Fankhauser said the plan was "not the outcome any of us wanted" but ins... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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