Thomas Cook causes more bankruptcies

Thomas Cook causes more bankruptcies

After the bankruptcy of Thomas Cook, the German Neckermann and the Polish branch of the office went bankrupt. There are now 500 Spanish hotels in bankruptcy that were either owned or operated by Thomas Cook.

Hotel owners are calling on Spain to grant them tax and social security benefits for their employees, as Thomas Cook did not account for around €200 million for the holiday stays of his clients.

The German and Hessian authorities have already engaged in helping the tourism industry by granting a PLN 1.6 billion rescue loan to Condor airlines.

Experts estimate that the collapse of Thomas Cook could bring losses worth billions of euros.

Source:,151003,25257227,thomas-cook-bankruptt-now-breakdown-newly collapsed- hotels in Spain.html


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