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Tag Archives: bankruptcy

Thomas Cook collapses with 600,000 tourists stranded abroad

London, United Kingdom | AFP | British travel firm Thomas Cook collapsed into bankruptcy on Monday, leaving some 600,000 holidaymakers stranded and sparking the UK’s biggest repatriation since World War II. The 178-year-old debt-plagued group, which had struggled against fierce online competition for some time and blamed Brexit uncertainty for a …

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Pressure rises on British govt over Carillion collapse

London, United Kingdom | AFP | The British government on Tuesday defended its decision not to bail out imploding construction-to-catering group Carillion, as criticism grew of its handling of the giant firm’s demise. Carillion, which has a variety of private and public service contracts in Britain and employs 43,000 staff …

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Clubs chasing Premier League dream ‘risk bankruptcy’

London, United Kingdom | AFP | English Football League clubs are risking bankruptcy by chasing promotion to the Premier League where they face “economic exhaustion” trying to compete with established sides, financial experts said on Tuesday. Between the 2008-09 and 2015-16 seasons, 19 clubs gained promotion from the Championship to the …

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