Thomas Cook Group announces compulsory liquidation of the company with immediate effect

Thomas Cook Group announced (20-Sep-2019) discussions with a range of key stakeholders and lending institutions to secure final terms on the recapitalisation and reorganisation of the group failed to reach an agreement. As a result, Thomas Cook's board concluded it has no choice but to move to enter compulsory liquidation, with immediate effect. Members of AlixPartners and KPMG have been appointed as special managers in respect of the relevant group companies. AlixPartners will now work very closely with the UK Civil Aviation Authority to effect the repatriation of all UK passengers impacted by this announcement. [more - original PR]