This archive report was first published on 23 September 2019.
On September 23, 2019, Thomas Cook, a 178-year-old British tour operator, filed for bankruptcy after failing to secure a last-ditch rescue deal.
The company's collapse has triggered the UK's largest repatriation since World War II, with the government hiring planes to fly back stranded British tourists.
According to reports, around 600,000 tourists are stranded worldwide, including 150,000 holidaymakers seeking help from the British government to return home.
Thomas Cook had been seeking £200 million from private investors to avoid collapse, but was unable to reach an agreement with its stakeholders and proposed new money providers.
Transport Secretary Grant Shapps announced that the government and UK Civil Aviation Authority have hired dozens of charter planes to fly customers home free of charge, describing it as the largest repatriation in peacetime history.
Thomas Cook chief executive Peter Fankhauser called the collapse a 'deeply sad day', with thousands of jobs lost.
The company's creditors held a marathon meeting on Sunday to try and work out a deal, but ultimately failed to secure a rescue package.
