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"Bruce Poon Tip" couldn't make it up ha ha ha
HOW CRAZY IS THIS STORY BY TRAVEL WEEKLY?THOMAS COOK COULD HAVE THEIR ATOL REVOKED IN 2 WEEKS TIME AS THEYNEED ANOTHER 100 M £ AND YOU RUN THIS STORY.... WAKE UP TRAVEL WEEKLYREPORT ON THE REAL NEWS...AND STOP CENSORSHIP OR YOU WILL BECOME IRRELEVANT ....
Peter, they actually need another £200m and thats only to convince the other investors that they could potentially borrow conventionally from the standard market, which of course they can't. Its terrible and anyone who works for TC I am so sorry that you've got caught up in this mess, it cannot be pleasant.
In reality, I just cannot see a qualifying deal coming through in the next 24/48 hours - which realistically is the deadline. If I was Cooks (and I know this sounds mean) I would focus efforts on starting the planning around repatriation now because that is all that will be important if this deal is not made.
The other option is that Fosun wait for TC to fall in to administration and then buy the assets immediately - however, as everybody knows they would immediately loose the bonding as would the TO business by then also. As I've said for months now, I just can't see them working through this. And I'm sorry to say it.