Thomas Cook

[Hibeesmad]

Potentially could go bust this weekend leaving 22,000 workers jobless and 150,000 UK holidaymakers stranded. They need £200 million.



https://www.bbc.co.uk/news/business-49761464

[sleeping giant]

I would assume this would be down to lack of booking for next year as everyone waits to see what happens with brexit.

[Pretty Boy]

Has there not been financial issues with Thomas Cook for years? They underwent a huge rebrand a few years ago and refocused a lot of their business online to try to deal with it.

I suppose like a lot of things the 'traditional' way of doing things is no longer the go to for a lot of people and businesses that don't adapt will suffer. I wouldn't dream of using a travel agent for booking a holiday now. When I last went on a beach holiday abroad I booked flights, accommodation, transfers, insurance etc myself and it worked out almost £600 cheaper than the price Thomas Cook and Tui quoted me. With the easy availability of booking.com, Skyscanner etc I'd imagine a lot of people are increasingly confident about doing things for themselves and shunning the package holiday.

[RyeSloan]

They still have something like 550 high street shops!

Considering holidays and flights was one of the first things that went online I find that quite staggering.

Their troubles seem a classic case of a market incumbent failing miserably to adjust to disruptive change.

And while it’s certainly painful for their employees (and anyone daft enough to still own their shares!) it’s really just creative destruction at work.

[GlesgaeHibby]

Has there not been financial issues with Thomas Cook for years? They underwent a huge rebrand a few years ago and refocused a lot of their business online to try to deal with it.

I suppose like a lot of things the 'traditional' way of doing things is no longer the go to for a lot of people and businesses that don't adapt will suffer. I wouldn't dream of using a travel agent for booking a holiday now. When I last went on a beach holiday abroad I booked flights, accommodation, transfers, insurance etc myself and it worked out almost £600 cheaper than the price Thomas Cook and Tui quoted me. With the easy availability of booking.com, Skyscanner etc I'd imagine a lot of people are increasingly confident about doing things for themselves and shunning the package holiday.

I've booked everything separately in the past (flights, hotels, transfers) and would do so again if it offered good savings. More often than not in recent years I've used Jet2 holidays. Found them to be very well priced, good flight times, and the service to be excellent.

[lord bunberry]

They still have something like 550 high street shops!

Considering holidays and flights was one of the first things that went online I find that quite staggering.

Their troubles seem a classic case of a market incumbent failing miserably to adjust to disruptive change.

And while it’s certainly painful for their employees (and anyone daft enough to still own their shares!) it’s really just creative destruction at work.
I’ve never been in a travel agent shop in years, but there must still be a market for them. I’m sitting opposite two that have recently opened up in Hanover Street, Sta travel and Flight Centre, there’s a Thomas Cook on the other side of the road. Personally I can’t see a future for these places, but in the short term they must be viable.

[Cataplana]

I’ve never been in a travel agent shop in years, but there must still be a market for them. I’m sitting opposite two that have recently opened up in Hanover Street, Sta travel and Flight Centre, there’s a Thomas Cook on the other side of the road. Personally I can’t see a future for these places, but in the short term they must be viable.

I always book independently and usually save around £500 on a two week holiday. It never ceases to amaze me how many people hand over their cash to the likes of Jet2, and TUI.

However, it seems that they feel an extra sense of security by going through an intermediary .

[HappyAsHellas]

The traditional companies can undercut the doing it yourself, depending where you want to go. Try getting rooms/hotels in some places is sometimes frightening with the prices on offer. We have tried getting to a few of the less popular Greek islands by shopping around and so far we've never been able to get it cheaper than Jet2. Some of the transfer charges alone can make it hard to get a cheaper break. For weekends and short breaks it's relatively simple with the flights on offer, but a 2 week holiday just hasn't worked for me yet.

[lord bunberry]

I always book independently and usually save around £500 on a two week holiday. It never ceases to amaze me how many people hand over their cash to the likes of Jet2, and TUI.

However, it seems that they feel an extra sense of security by going through an intermediary .
In my mind it’s older people that are using the shops, but it probably isn’t. I always book separately as well. I’ll generally go on an online site and find the hotel I want then go direct to the hotel and book it there.

[MSK]

I've booked everything separately in the past (flights, hotels, transfers) and would do so again if it offered good savings. More often than not in recent years I've used Jet2 holidays. Found them to be very well priced, good flight times, and the service to be excellent.We are the same, been at least 10 years since we went into a travel agents and read through a brochure (remember them) mostly now Wife on ipad and most if not all holidays with Jet2 holidays, in the years using them they have been excellent, plenty leg room in the planes too, think they have recently added a few new planes to their fleet too.

[heretoday]

It's ironic that RBS are the ones applying pressure on Cooks, given their history recently.

[patch1875]

It’s a shame. We’ve used them a few times recently to go to a hotel in Ibiza as they have always been the cheapest way to do it. Service has always been superb.

[Scouse Hibee]

It’s a shame. We’ve used them a few times recently to go to a hotel in Ibiza as they have always been the cheapest way to do it. Service has always been superb.

Same here, you can’t always beat their prices doing it yourself, I use “On The Beach” too.

[Callum_62]

We are booked up for cuba for 2 weeks in December

We will obviously get our money back, I'm more concerned about the employees keeping there house etc

Find it a bit cringe on the news folk winging about possibly losing there week in the canaries

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[jonty]

It's ironic that RBS are the ones applying pressure on Cooks, given their history recently.

It is indeed. A catch 22. make sure you run a more profitable business by no dodgy lending, yet it forces companies to live within their means.
Even more ironic - RBS have just paid a dividend so the government should be able to put aside 200 million no problem.

Particularly if they can find 100 million for 'get ready for Brexit ' adverts without breaking a sweat.

[RyeSloan]

It is indeed. A catch 22. make sure you run a more profitable business by no dodgy lending, yet it forces companies to live within their means.
Even more ironic - RBS have just paid a dividend so the government should be able to put aside 200 million no problem.

Particularly if they can find 100 million for 'get ready for Brexit ' adverts without breaking a sweat.

I think you are conflating a few things here....

This is all to do with crap management running a travel company into the ground and zero to do with RBS dividends and government spending.

[jonty]

I think you are conflating a few things here....

This is all to do with crap management running a travel company into the ground and zero to do with RBS dividends and government spending.
I don't think i am. well perhaps a little.
Its ironic that RBS, after having crap management, are the ones applying pressure to a company (after being told to get their act together) who are run by crap management.
Investors want a £200 million guarantee and TC are asking the govt for it.

The govt could easily find it given they've 'found' £100 million for an advertising campaign. They also got 150million from the last dividend so (probably) received the around the same amount last week. So its there if they want to find it. Just depends if the govt have the desire to or not.

[Hibbyradge]

I don't think i am. well perhaps a little.
Its ironic that RBS, after having crap management, are the ones applying pressure to a company (after being told to get their act together) who are run by crap management.
Investors want a £200 million guarantee and TC are asking the govt for it.

The govt could easily find it given they've 'found' £100 million for an advertising campaign. They also got 150million from the last dividend so (probably) received the around the same amount last week. So its there if they want to find it. Just depends if the govt have the desire to or not.

It might be ironic, but it's still necessary.

[jonty]

It might be ironic, but it's still necessary.

absolutely.

like a free ride, when you've already paid.

[RyeSloan]

I don't think i am. well perhaps a little.
Its ironic that RBS, after having crap management, are the ones applying pressure to a company (after being told to get their act together) who are run by crap management.
Investors want a £200 million guarantee and TC are asking the govt for it.

The govt could easily find it given they've 'found' £100 million for an advertising campaign. They also got 150million from the last dividend so (probably) received the around the same amount last week. So its there if they want to find it. Just depends if the govt have the desire to or not.

The government should not be in the business of guaranteeing listed company liabilities. Where the governments money comes from is completely irrelevant to that state of affairs.

RBS is just one of many companies that have or would have exposure to Cook’s brutal financial situation...I’m sure many of them have provided some sort of payment to the government as well.

And where do you stop this RBS connection? Should the government provide guarantees or support that RBS happens to have dealings with?

And finally RBS are not the ones ‘applying pressure’ that is the company that has done that to itself. The fact it cannot guarantee that it can trade profitability enough to support itself and its £1.5bn debt load is the root cause of the pressure not its lending banks.

[jonty]

The government should not be in the business of guaranteeing listed company liabilities. Where the governments money comes from is completely irrelevant to that state of affairs.

RBS is just one of many companies that have or would have exposure to Cook’s brutal financial situation...I’m sure many of them have provided some sort of payment to the government as well.

And where do you stop this RBS connection? Should the government provide guarantees or support that RBS happens to have dealings with?

And finally RBS are not the ones ‘applying pressure’ that is the company that has done that to itself. The fact it cannot guarantee that it can trade profitability enough to support itself and its £1.5bn debt load is the root cause of the pressure not its lending banks.

easy tiger :greengrin
I'm not saying the govt should respond to their plea for help. I'm just pointing out that they can find money when/if they need to (100 million being an example, along with the RBS dividend being another income stream of ironic timing).

Personally I don't think the govt should step in, but there are plenty of examples where they have (as have the Scottish govt).

Creditor banks requested a last-minute demand that TC find an extra 200m to cover the shortfall picked up by the independent audit.
You dont agree that a demand is pressure? Or a so-called 'last-minute' demand is not additional pressure?

Im not bashing the banks - they're entitled to cover their *****.

[RyeSloan]

easy tiger :greengrin
I'm not saying the govt should respond to their plea for help. I'm just pointing out that they can find money when/if they need to (100 million being an example, along with the RBS dividend being another income stream of ironic timing).

Personally I don't think the govt should step in, but there are plenty of examples where they have (as have the Scottish govt).

Creditor banks requested a last-minute demand that TC find an extra 200m to cover the shortfall picked up by the independent audit.
You dont agree that a demand is pressure? Or a so-called 'last-minute' demand is not additional pressure?

Im not bashing the banks - they're entitled to cover their *****.

OK, fair enough [emoji106]

[blaikie]

Doesn’t look good reading between the lines, CEO and other directors leaving via the loading bay of their lawyers office. Also, Malayasian Airlines A380 inbound to Manchester to assist with repatriation with others large aircraft coming from the States and private charters based in Shannon.

I’d expect an early morning press release tomorrow. Hope not always had a soft spot for TC!

[Cataplana]

In my mind it’s older people that are using the shops, but it probably isn’t. I always book separately as well. I’ll generally go on an online site and find the hotel I want then go direct to the hotel and book it there.

I think if I was traveling with kids, I'd maybe more cautious.

That said, when you see what people pay for excursions from your operator, it appears there are still rich pickings from people lacking confidence to do their own thing.

Went a Thomson's cruise to Amsterdam once. People were handing out £40 for a city tour.

A day care for the trams was about five euro.

It pisses me off how much your operators rip off their clients. Currently in Lanzarote, reckon I've saved around £700 compared to the same holiday with Jet2, if you include car hire.

[Callum_62]

Itv now running with them in administration tomorrow AM

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[GreenLake]

I rarely use a travel agent but feel sad that many people will be screwed in the death of this huge company.

I'm guessing many younger folk use Internet bookings for hotels, flights and local tours or transport for their vacations.

[Callum_62]

Terrible for the staff.

We had a trip to Cuba booked in December - hopefully ATOL don't take long to return moneyhttps://uploads.tapatalk-cdn.com/20190923/e321d874e0798ffaaabd7fce3129f69b.jpg

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[BroxburnHibee]

Wonder how long Tui/Thomson have.

[blaikie]

Interesting to see that Condor who are owned by the Thomas Cook group are continuing to fly with a proposed emergency loan from the German Goverment.

[danhibees1875]

Shame to see TC go under, particularly for their staff.

I do think there is a place for package holiday retailers. I just booked a 5 night stay in Portugal with Jet2 last night, I doubt I could have got it any cheaper doing flight, hotel, and transfers myself - or any savings wouldn't have been worth the extra time of looking into it all anyway.

[Cataplana]

Shame to see TC go under, particularly for their staff.

I do think there is a place for package holiday retailers. I just booked a 5 night stay in Portugal with Jet2 last night, I doubt I could have got it any cheaper doing flight, hotel, and transfers myself - or any savings wouldn't have been worth the extra time of looking into it all anyway.

On five nights, the savings would be minimal I expect.

[Ozyhibby]

Shame to see TC go under, particularly for their staff.

I do think there is a place for package holiday retailers. I just booked a 5 night stay in Portugal with Jet2 last night, I doubt I could have got it any cheaper doing flight, hotel, and transfers myself - or any savings wouldn't have been worth the extra time of looking into it all anyway.

And if that’s the case another company will step up to provide those services. And then a lot of those employee’s losing their jobs will find new ones.


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[patch1875]

Wonder how long Tui/Thomson have.

Tui seem to be doing ok they have done a lot of restructuring already getting rid of lots of shops.

Both TUI and Jet2 (Dart group) shares well up this morning.

[RyeSloan]

Tui seem to be doing ok they have done a lot of restructuring already getting rid of lots of shops.

Both TUI and Jet2 (Dart group) shares well up this morning.

Dart group...now there is a share that has done the opposite of TC. 5 years ago you could have picked up their shares at about 50p, today trading in the £9 area!

[Mr_F]

Shame to see TC go under, particularly for their staff.

I do think there is a place for package holiday retailers. I just booked a 5 night stay in Portugal with Jet2 last night, I doubt I could have got it any cheaper doing flight, hotel, and transfers myself - or any savings wouldn't have been worth the extra time of looking into it all anyway.

I've never not been able to save a substantial amount doing it seperate.

What's your dates, destination, numbers etc?

[blaikie]

Dart group...now there is a share that has done the opposite of TC. 5 years ago you could have picked up their shares at about 50p, today trading in the £9 area!

:agree:

Jet2 (Dart Group) Business Model is excellent, buying older aircraft rather than leasing new ones and moving into areas were other airlines have failed. Rather than buying failing operators like XL, Zoom, Monarch and now TC. I wouldn't be surprised to see Jet2 picking up the extra slots and extending their operations.

[Hibs Class]

:agree:

Jet2 (Dart Group) Business Model is excellent, buying older aircraft rather than leasing new ones and moving into areas were other airlines have failed. Rather than buying failing operators like XL, Zoom, Monarch and now TC. I wouldn't be surprised to see Jet2 picking up the extra slots and extending their operations.

I think the Jet2 fleet is pretty new. Certainly, looking at all their flights out of Edinburgh today so far all the planes are less than three years old.

[Ozyhibby]

I think the Jet2 fleet is pretty new. Certainly, looking at all their flights out of Edinburgh today so far all the planes are less than three years old.

Yes, I’m pretty sure it’s cheaper to lease new planes because they use a lot less fuel.


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[blaikie]

I think the Jet2 fleet is pretty new. Certainly, looking at all their flights out of Edinburgh today so far all the planes are less than three years old.

Their core fleet was mainly old 737's and 757's, I know they had the UK's oldest passenger jet in their fleet which was well over 30 years old. Having a look through they seem to have a fair few 737NG which are averaging 10 years old with some on lease.

Hopefully the TC Staff are taken on by Airlines like Jet2 and TUI who will probably fill the void left by Thomas Cook.

[Bristolhibby]

Yes, I’m pretty sure it’s cheaper to lease new planes because they use a lot less fuel.


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And maintenance.

J

[Jack Hackett]

Their core fleet was mainly old 737's and 757's, I know they had the UK's oldest passenger jet in their fleet which was well over 30 years old. Having a look through they seem to have a fair few 737NG which are averaging 10 years old with some on lease.

Hopefully the TC Staff are taken on by Airlines like Jet2 and TUI who will probably fill the void left by Thomas Cook.

There's always 'take up' in these situations. Someone will take up their airport slots. Someone will take up the staff to fill those new slots. The only thing not to be taken up will be the reduced/discounted fares owing to the reduced competition.

[Rocky]

I always book independently and usually save around £500 on a two week holiday. It never ceases to amaze me how many people hand over their cash to the likes of Jet2, and TUI.

However, it seems that they feel an extra sense of security by going through an intermediary .

I always check independent prices and Jet2 tend to be cheaper. I reckon if you're booking early and get in on the first few phases of flight prices with the likes of Easyjet (or if you're prepared to fly Ryanair, which I'm not) then you can do it cheaper. I'm rarely organised enough to book that far in advance though.

[Cataplana]

I always check independent prices and Jet2 tend to be cheaper. I reckon if you're booking early and get in on the first few phases of flight prices with the likes of Easyjet (or if you're prepared to fly Ryanair, which I'm not) then you can do it cheaper. I'm rarely organised enough to book that far in advance though.

I always use Ryanair!

After that it's a case of checking hotel prices up till I get one that suits. I use Trivago, but also check the price direct from the hotel.

The real savings are on apartments, and villas.

At the end of the day, taking stress out of the equation is important. I am a lot more relaxed about going independent now I've done it a few times.

Jet2 do a good job of getting people through the airport, which is a nightmare for some travellers. They also provide a rep. which many people feel reassuring.

[Rocky]

I always use Ryanair!

After that it's a case of checking hotel prices up till I get one that suits. I use Trivago, but also check the price direct from the hotel.

The real savings are on apartments, and villas.

At the end of the day, taking stress out of the equation is important. I am a lot more relaxed about going independent now I've done it a few times.

Jet2 do a good job of getting people through the airport, which is a nightmare for some travellers. They also provide a rep. which many people feel reassuring.

So your point really is that if you're prepared to compromise on aspects of your holiday then you can get it cheaper. That's not really news. But you shouldn't assume that it's only people that see a package as a comfort blanket that would be daft enough to use the likes of Jet2 though, that assertion just doesn't stand up to scrutiny. I've used them for apartments in central Budapest and Dubrovnik as well as for all inclusive type holidays and their prices have been fine.

And yes, I did travel independently plenty of times before Jet2 came along. In the past five or six years I've not been able to find anyone to beat them on price (except if it involves Ryanair and that's not my thing).

I imagine there'll be a number of independent travellers ruing their lack of ATOL protection today.

[Cataplana]

So your point really is that if you're prepared to compromise on aspects of your holiday then you can get it cheaper. That's not really news. But you shouldn't assume that it's only people that see a package as a comfort blanket that would be daft enough to use the likes of Jet2 though, that assertion just doesn't stand up to scrutiny. I've used them for apartments in central Budapest and Dubrovnik as well as for all inclusive type holidays and their prices have been fine.

And yes, I did travel independently plenty of times before Jet2 came along. In the past five or six years I've not been able to find anyone to beat them on price (except if it involves Ryanair and that's not my thing).

I imagine there'll be a number of independent travellers ruing their lack of ATOL protection today.

You got my point, I haven't really thought to much about why people take packages, but I can see that they work well for those that want to.

I went with Jet2 once, it was ok, but by doing it my way I get away more often, albeit I am aware of the risk I am carrying.

I don't see it as a competition to be honest. I imagine you are right about the ATOL situation though.

[hibs#1]

Always puzzles me how big companies like this rack up so much debt surely it's someone in companies job to make sure they don't get this far along, surely by the time they get too maybe 500 million in debt they would realise there Company is failing and take measures to address it?

[brianmc]

Clicked on this thread thinking it was another stupid suggestion of a name to replace Heckinbottom.... 🙄







*not really

[Future17]

Clicked on this thread thinking it was another stupid suggestion of a name to replace Heckinbottom.... 🙄







*not really

I'm just glad you didn't post this on the "Thoughts On Jo Swinson?" thread...you'd have given someone an aneurysm.

[Colr]

I thought holiday’s booked through an agent were insured! Is that not the case?

[Callum_62]

I thought holiday’s booked through an agent were insured! Is that not the case?Package holidays are protected by ATOL

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[Sir David Gray]

I thought holiday’s booked through an agent were insured! Is that not the case?

If you've booked a package holiday then you're protected by the ATOL scheme and will be entitled to a full refund on the costs of your flight and accommodation.

If you booked flights only then it depends on your individual circumstances. You may be able to do a chargeback through your card provider or alternatively check your travel insurance policy to see if you can make a claim through that.

[Zondervan]

I think if I was traveling with kids, I'd maybe more cautious.

That said, when you see what people pay for excursions from your operator, it appears there are still rich pickings from people lacking confidence to do their own thing.

Went a Thomson's cruise to Amsterdam once. People were handing out £40 for a city tour.

A day care for the trams was about five euro.

It pisses me off how much your operators rip off their clients. Currently in Lanzarote, reckon I've saved around £700 compared to the same holiday with Jet2, if you include car hire.

In the last 5 years since I have had kids, I have been on 8 TUI “package” holidays. Before that, the last time I booked one was to Ibiza in 1998!

I have done the comparisons also with booking flights, hotel, transfers etc all separately. It tends to come in cheaper if you do not want to do all-inclusive, but what you get with TUI is the free child places, which you do not get with your easyJet, Ryanair etc. This has a massive effect on the overall price you pay.

It is also more reassuring when travelling with young kids if you know everything is packaged up, in that if he flight, hotel or transfer fails, then the travel company will do their best to sort it. Unless the whole company fails of course!

Also, you just have to look at Monarch Airlines a few years back to see the effects of just one component failing. In that instance, if you booked hotels and transfers separately then you only got your flights covered by ATOL, any hotel costs etc would not have been refunded.


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[Colr]

If you've booked a package holiday then you're protected by the ATOL scheme and will be entitled to a full refund on the costs of your flight and accommodation.

If you booked flights only then it depends on your individual circumstances. You may be able to do a chargeback through your card provider or alternatively check your travel insurance policy to see if you can make a claim through that.

So this £600million cost to the government to return people to the UK is utter bollocks, then?

[Rocky]

So this £600million cost to the government to return people to the UK is utter bollocks, then?

Correct, but it hasn't stopped Grant Shapps giving himself a pat on the back for it.

[Callum_62]

Who funds ATOL?

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[Zondervan]

Who funds ATOL?

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Ultimately us!

There is a levy paid by every travel company per passenger, which I guess is factored into the overall price we pay.


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[lord bunberry]

One of the reasons I don’t like package holidays is that when you pay the tour operator they don’t pay the hotel. I was on holiday when XL holidays went bust and people were being thrown out of their hotels in our resort. Luckily we hadn’t booked with them, but we had the year before. The tour operator should pay the hotel straight away to avoid this problem.

[cabbageandribs1875]

the turkish government have warned hotels not to chuck any TC holidaymakers out or they will face court action

[Lendo]

Their core fleet was mainly old 737's and 757's, I know they had the UK's oldest passenger jet in their fleet which was well over 30 years old. Having a look through they seem to have a fair few 737NG which are averaging 10 years old with some on lease.

Hopefully the TC Staff are taken on by Airlines like Jet2 and TUI who will probably fill the void left by Thomas Cook.

Had a friend of a friend who was a Jet2 pilot, he was telling me that they basically run the aircraft 24/7 flying freight at night time. One of the reasons they can offer cheaper fares.

[Pretty Boy]

Had a friend of a friend who was a Jet2 pilot, he was telling me that they basically run the aircraft 24/7 flying freight at night time. One of the reasons they can offer cheaper fares.

Royal Mail use Jet2 planes overnight. A section of seats in the middle of the aircraft are removed and the freight is loaded then they are refitted before the following days passenger flights begin.

[cabbageandribs1875]

https://www.bbc.co.uk/news/business-49985369?fbclid=IwAR0P1wQcZQz3CK2x80OlFDfOMKVYnmBI 7dpdmxEv6YFzFgFQmhnC1TyJK4E


All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.

[Ozyhibby]

https://www.bbc.co.uk/news/business-49985369?fbclid=IwAR0P1wQcZQz3CK2x80OlFDfOMKVYnmBI 7dpdmxEv6YFzFgFQmhnC1TyJK4E


All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.

Exactly how capitalism should work. Thankfully the government did not do anything stupid like try to bail them out. Not sure the Scottish government could have resisted that temptation.


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[Colr]

Exactly how capitalism should work. Thankfully the government did not do anything stupid like try to bail them out. Not sure the Scottish government could have resisted that temptation.


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How have they dealt with the debt? Loaded it up with even more?

Don’t hold your breath for a recovery.

[Future17]

How have they dealt with the debt? Loaded it up with even more?

Don’t hold your breath for a recovery.

Hays aren't buying the TC business, so they won't have to do anything with the debt.

[Ozyhibby]

How have they dealt with the debt? Loaded it up with even more?

Don’t hold your breath for a recovery.

The debt is gone. The lenders have taken the hit.


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[southsider]

Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.

[Ozyhibby]

Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.

I have no idea but they must think there is enough business there for them. The good thing is if there isn’t then it’s them and their bankers who take the hit.


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[Allant1981]

Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.

People clearly do use travel agents as hundreds if not thousands of people are out of pocket, not everyone likes booking holidays this way, I know one couple who will only book through a travel agent, personally I wouldnt

[HUTCHYHIBBY]

Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.

From what I could make out from the news, the shops were making a profit, the business as a whole (including the running of TC HQ) wasn't. I'm sure as an existing High Street business Hays will have done their sums re taking on the shops only.

[danhibees1875]

I'm not really sure if they've bought buildings or taken on defaulted leases, or a mix. I've only read headlines about the latest stuff so it may have been covered.

I'd imagine it's mostly the defaulted leases and given the state of the high streets up and down Britain they probably got a good deal on them, they'll also have earned a bit of goodwill generally from saving a lot of TC jobs - not sure that translates into much business in their industry though.

The numbers show a pretty staggering acceleration of shop fronts and employees though, rapid growth in a troubled and declining market (I'd assume) at the peak of uncertainty around Brexit etc... Can't say they're not ballsy.

[RyeSloan]

I'm not really sure if they've bought buildings or taken on defaulted leases, or a mix. I've only read headlines about the latest stuff so it may have been covered.

I'd imagine it's mostly the defaulted leases and given the state of the high streets up and down Britain they probably got a good deal on them, they'll also have earned a bit of goodwill generally from saving a lot of TC jobs - not sure that translates into much business in their industry though.

The numbers show a pretty staggering acceleration of shop fronts and employees though, rapid growth in a troubled and declining market (I'd assume) at the peak of uncertainty around Brexit etc... Can't say they're not ballsy.

Well I hope it works out for them but your last para sums it up for me.

And digging into the TC story a bit shows that it was their takeover of MyTravel that was the root of many of their ills so I hope this is not a wee bit of history about to repeat itself.

[Captain Trips]

Once all the generations of people who are not fans of using online are gone there will be lots more shops closing and lots of people out of work. I think curry's pc world type places will all be gone in next 10yrs or so.

Companies that needed 1000s will need 100s.

[Colr]

Once all the generations of people who are not fans of using online are gone there will be lots more shops closing and lots of people out of work. I think curry's pc world type places will all be gone in next 10yrs or so.

Companies that needed 1000s will need 100s.

Well, IMO the retail experience is utterly ****.

Most of the retail industry seems complacent and stuck in a past that’s been diappearing for the last two decades and are utterly clueless how to respond.

It needs a revolution. It’ll come