I'm not surprised Thomas Cook have gone under

[Burningcheeks]

Their service was shambolic. I actually got up & walked out mid-booking because they gave me no confidence at all. The staff didn't know their arse from their elbow. I was trying to book one of their packages to the Monaco Grand Prix & it was costing thousands. They were making a complete balls of it. If that was happening on the shop floor I wonder what else was happening higher up? I feel very sorry for all those let down & the enormous number of ensuing job losses.

Very sad for all the staff and such a shame to lose another iconic British brand.

AirBnB and cheap flights killed Thomas Cook.

TC flights ARE cheap flights

and who uses AIrBnB when they want to book a hotel, a resort or some kind of package?

You are being V V UR blaming the staff - we have a relative who worked (past tense now) for them, she was very helpful when we were researching a very specialised itinerary for my DD this summer, gave some great advise and a similar cost. We ended up booking with a specialist purely because DDs travel companion preferred it, and glad we did.

Their downfall has come about due to technology changing the industry. Yes TC did operate online, but I am guessing their many shops were no longer financially viable.

DH and I are going away this coming weekend, our first European package for a long time, we normally take our caravan to Europe, or book a detailed long haul itinerary using a specialist such as Trailfinders. We looked at booking separates, but decided the package wasn’t much more expensive.

However, we are going with a company with no high street presence and have done everything for the holiday online - the booking and check-in, train travel, separate airport hotel and insurance, we have not spoken to nor seen an agent, the first time will be at bag drop off. All ‘tickets’ and boarding passes are electronic.

Thinking of you and all the staff, @MarthasGinYard, and all those who have lost flights, holidays and wedding bookings.

I looked at their twitter page a few hours ago and they were still parroting that everything was going to be fine! 🤔 🤔 🤔 🤔 🤔

It really is not the presence of a handful of shops in a handful of towns that has caused this!

To the person who mentioned TUI - they are owned by TUI group, a huge German company, it’s the largest travel company in the world and they have their hands in many pies. It’s on another level to TC who’s primary focus was traditional travel agency.

Their customer service is terrible. Jet 2 on the other hand who I also called were amazing. Difference was shocking.

The 20% fall in the pound following the eu referendum vote meant overseas hotel costs went up, which in a hyper competitive market, TC couldn't pass on, thats a huge hit for any company to handle,let alone one that has been badly run.

As well as the job losses, i feel for the people turning up for holidays today, only to find its all off.

I couldn't believe TC's CEO has been paid 8m in the last 3 years!!!

I think today's news is incredibly sad. The staff who have lost their jobs and customers who have holidays booked must all be devastated, and no 'bad holiday' story is ever going to compare to that really.

That being said we stopped using TC ourselves 2 years ago after having paid nearly £100 extra a person for 5 of us to upgrade to better flight times as we were travelling with a 3 and 1 year old on our flights to and from Lanzarote. A week before we were due to travel we got e-mailed and told the day flight had been cancelled, and we had been moved to the night flight. I called them repeatedly and explained that I was travelling with young children and it wasn't suitable for us to fly home at 3am. They refused to help us or compensate us. When I asked if I could at least have back the money that I had paid extra to be on the day flight, they told me no. So I paid an extra £500 for nothing, and had two over-tired children crying and tantruming on a night flight home to deal with. In many ways we were lucky, as we discovered when we got to the airport many customers had never been told that the day flights had been cancelled until they got to the airport, and had apparently got to the airport in the morning just to be told they would need to wait 12+ hours for the night flight home. Me and DH agreed after that we would never use TC again.

@Burningcheeks it's a good job the City doesn't place its confidence on the anecdotal reports of one person who had bad service once..

Thomas Cook failed in my opinion because like other companies with a 20th century business model, it failed to turn around the juggernaut quickly enough and offer something tangibly different in this online-led marketplace

You have the CEO blindly stating last week "Brits still love the package holiday for the security and convenience".

Yet not enough Brits probably loved it compared to the previous decade, and companies like this are resourced and staffed up based on a continued expectation that the good times are just around the corner again.

They blame "Brexit", which may seem tired until you realise that Brexit is actually just shorthand for consumer confidence (or lack of it). Not everyone works in jobs that spring eternal - I know three or four people who are nervously watching for October and the potential impact on their industry

The main thing for me is that huge companies like TC never become agile enough to weather the storm - it's like the Titanic effect. They buy up smaller internet firms hoping the magic will integrate and rub off on them, but at the end of the day if 20% fewer holidaymakers buy their product, they still have tens of thousands of staff to pay, and huge overheads. Any business this size is hugely susceptible especially if it is loaned up to the hilt.

I looked at their twitter page a few hours ago and they were still parroting that everything was going to be fine!

What were they supposed to say? They were telling people that their schedule was running as normal and it was until the last minute when the plug was pulled.

I've only had one experience with TC and it was the complete opposite of OP. We flew out to Mallorca with them this summer (cheapest flight on the date and time we needed with any carrier inc Ryanair) and we received fabulous service throughout. The pilots and cabin crew were absolutely marvellous - even when we were diverted to a different island for 3 hours for reasons beyond TC control. They kept us updated and informed throughout the delay and the captain even invited the children to come and see the cockpit, which was the highlight of my DD's holiday. I am so sorry that all those lovely people have lost their jobs today.

Are all the staff going to lose their jobs? My niece is cabin crew?

Nothing to do with brexit and I’m sick of these companies using it as a get out clause for their own incompetence. A company can blame brexit and everyone will agree with them no matter what even when it’s nothing to do with it.

"Living"
It was at an extremely busy time of year and no other accommodations available. And it's more common than you think.
Try get money from your insurance company due to illness when you have booked with Expedia. (Not straight forward and Expedia dont help)

‘I looked at their twitter page a few hours ago and they were still parroting that everything was going to be fine!’

^ the person running the twitter page wouldn’t have known anything.

TC’s troubles go back to the massive debt mountain resulting from the MyTravel merger in 2007. The debt restricted their options to restructure quickly and respond to market shocks like the Icelandic Volcano in 2010 and the Tunisia attacks in 2015. Brexit didn’t help but TC had been in trouble for years by then.

This is a really shitty thread from the OP. I can’t imagine what it must feel like to lose your job with no notice

It is hardly no notice, and it isn't unexpected as they have been struggling for some years. Brexit has compounded the issue hugely.

I have every sympathy with the staff. Some posters on here are displaying a very poor attitude.

Never had problems with them, I was due to leave in 11 days with them to get married, I've had brilliant customer service since I booked in store, I've been called and emailed regularly about the wedding to see if I need any help with anything etc.
Even yesterday when I spoke to them about my wedding package been refundable the member of staff I spoke to went out of his way to check for me, was polite and helpful, all whilst worrying he was about to loose his job. Although I'm sure not all staff are the same all the members I've come into contact with have been brilliant. I'm now gutted my wedding isn't going ahead
It's such a shame for everyone involved, especially the poor staff!

I have a friend who works for them. I find it hard to imagine her being rude and unprofessional.

And my first though this morning was for her

Brexit did have a lot to do with it. Virgin have been saying similar, because of the exchange rate and the fact they buy fuel in dollars their fuel costs have risen by a third.

Jellybean They must have known TC was in trouble. They worked for TC.
Anyone reading a paper or watching the news knew they were on trouble.

Nothing to do with brexit and I’m sick of these companies using it as a get out clause for their own incompetence. A company can blame brexit and everyone will agree with them no matter what even when it’s nothing to do with it

I am not reading about european holiday companies going bust? no Operation Matterhorn from the Dutch!
Actually only UK car plants are being shut down too.

But nothing whatsoever to do with Brexit oh no!

No one is saying its the only reason but an overnight devaluation of 20% is very difficult to deal with when everything you are buying is in foreign currency..

I hope TC is not going to be a metaphor for brexit, when everything is fine until it isn't!!

We used to have a Thomas Cook travel agent in our small town. The staff there were lovely and very patient whilst we dithered about what holiday we wanted. Yes we could have booked online, but we loved the personal service. We were sad when they closed it a few years ago, and now very sad for all the staff affected today.

ATOL are also going to take a huge hit. Let's hope no other ATOL protected agents go bust in these precarious times.

Jellybean They must have known TC was in trouble. They worked for TC. Anyone reading a paper or watching the news knew they were on trouble.

Well yes of course but they will have been advised to run Twitter/FB et as normal until a final decision was made.