Thomas Cook collapses blaming Brexit. When will the leavers admit they've made a mistake?

[JustOneLastThing]

Another one bites the dust. Boris is silent. Thomas Cook have blamed Brexit uncertainty. 9,000 UK jobs lost. All for blue passports and 'sovereignty'. How many more companies will keel over because of this?

Thoughts? Any brexiters want to give me their views?

TC has been going downhill for a long time. Brexit certainly won't have made it any easier, but they would have failed anyway. The holiday market is significantly different from what it was even 10 years ago. TC thought they could keep doing the same old, same old stuff. Clearly, they were wrong.

who goes into a shop anymore and books their holiday?
I have, but it was for complicated road trips that needed advise and planning, i havent for normal holisay

No-one is saying it was just because of Brexit. But put it this way - Brexit (people not wanting to risk travelling, the pound falling, people worrying about their financial situation due to job losses and price rises after Brexit), was a significant factor. Without Brexit, TC would no doubt not have failed, or not have failed this year.

I was planning to get some Euros for my trip to Ireland over Halloween from Thomas Cook. It's near the office. Will have to rethink that one.

I don't think it has (very) much to do with Brexit, although it doubtless played a role especially with lots o fpeople not booking holidays for after 29 March, although the fact that there are apparently 150,000 people away now, outside school holidays, and despite the rubbish £, indicates that confidence returned.

I actually thought Thomas Cook was a German company. Shows how much I know (and no I wasn't confusing it with Tui!)

who goes into a shop anymore and books their holiday

I have in 2017 but only because the tour operators had options on the hotel I wanted so the only way I could get a room was to book via a tour operator. To be fair I didn't go into the shop, I just emailed them. And when my mum had problems booking flights online I suggested she did it the old fashioned way!

This is nothing compared to the carnage that will happen if Greta Thunberg gets her way

Exactly.
How will remainers get around that one?

Why do remainers in particular need to get round that one?

Reduced flying is good.

Because more tour companies will go bust.

How will you twist it so it’s the fault of brexit ?

Well you need to speak to someone who actually thinks that because many remainers don’t, f you read the thread you’ll see that

Well maybe the op & the people who agree with her would like to comment?

They’ve been in trouble for years. And what of the other airlines/travel companies who have gone out of business in the past decade or so? And there have been many.

I’m a remainer but none of this blaming everything on Brexit hysteria is doing the remain argument any favours.

I read top management of TC were receivi g millions in bonusesIdon't think that is anything to do with Brexit ? Its such ashame though people have lost their jobs today and they are still working in airports and holiday resorts

TC were in trouble long before Brexit was even a word.

Pretty much no one on here is agreeing with the op @dirtyrottenscoundrel . Which, of course, Quitlings will turn into "more crazy Remoaner hysteria all over MN"

There aren’t many Dirty but seems loads of remainers who’ve posted as I have.

Travel companies are against it these days. Margins are very slim. I’m fine with things changing.

Well my Leaver MIL thinks everyone in the UK should only holiday in the UK.

She's only ever been abroad once- she didn't like it so doesn't understand why anyone needs to go abroad.

This is an internet problem not a Brexit issue.
Rents in town centers have driven away businesses, and so people go online.
When you search for a holiday you put in where you want to go and loads of cheap deals appear, so within 2 hours if you have the cash you can book it.
So the high street travel agent has just been out grown by the younger element who DIY.

So tired of the denialists on social media. It's simple:

Thomas Cook had a low profit margin and other problems. It could have traded through them if it hadn't been for the fallen pound created by Brexit. The final straws were:
•political uncertainty related to Brexit
• reduced demand for summer holidays due to Brexit
•high prices of EU suppliers in places like the Canaries due to the Brexit triggered fall in the pound
•reduced customer demand for winter sun due to Brexit
•delayed holiday plans due to Brexit

On other Brexit threads posters sometimes say at least the fall out from all this will force Faragists, ERG and Johnson fans to admit they were wrong. This will not happen. Losses of the EMA, EBA, Nissan, Honda, Goldman Sachs, JPMorgan, Morgan Stanley, and Citigroup etc etc. There will be no light bulb moment. There will be no epiphany.

Look at the Leavers’ comments today about Thomas Cook placing 110% reliance on other factors. They will never admit it they were wrong. Never.

So did Woolworths disappear due to Brexit.
M&S is that Brexit?
Debenhams?
Estate Agents?

The value of the £ has plummeted which means paying for fuel and airport costs has been a massive issue. EasyJet has also suffered huge losses. Brexit is a factor.

Brexit must have a bearing.

I've been wanting to book a holiday to Europe for the past couple of years but have held back as I don't know what the scenario will be after Brexit and they keep moving Brexit.

Errr if you actually read the articles you'll see TC were over a billion in debt because their business model ran on using credit rather than paying their bookings when they were booked but up to 90 days after the holiday had taken place.

So as a business model they were running on the worse king using future bookings to pay for bills as they came due.
So yes the prices of fuel and pound did play a role.
Also hotter summers here, people having no money for extras, and schools making children attend or fining for absences.