This archive report was first published on 23 September 2019.
Thomas Cook, a 178-year-old British travel operator, has collapsed after failing to secure a rescue deal, leaving an estimated 600,000 tourists stranded.
The company, which was founded in 1841 by cabinet maker Thomas Cook, had been seeking £200 million from private investors to save it from collapse.
Despite efforts to reach a deal, the company's stakeholders and proposed new money providers failed to agree, leading to the collapse of the business.
As a result, the UK government has hired planes to fly home an estimated 150,000 holidaymakers, in what is being described as the largest repatriation in peacetime history.
Transport Secretary Grant Shapps has announced that the government and UK Civil Aviation Authority has hired dozens of charter planes to fly customers home free of charge.
Thomas Cook chief executive Peter Fankhauser described the collapse as a 'deeply sad day' for the company, which pioneered package holidays and made travel possible for millions of people around the world.
The company's creditors held a marathon meeting on Sunday to try and work out a deal, followed by a meeting of the board of directors.
Thomas Cook's collapse is the latest in a series of problems faced by the company, which has been struggling with fierce online competition and Brexit uncertainty.
