Listen Now: British Travel Company Goes Under Leaving Travelers Stranded
[xyz-ips snippet=”post-thumb-url”]The world’s largest travel company suddenly collapsed this past week, and customers were left to deal with the aftermath.
The British company Thomas Cook has been operating since 1841. But after failing to secure a deal with creditors and being denied a government bailout, it went belly up. All its flights and travel reservations were canceled and thousands of employees were suddenly out of work. And passengers were also left stranded.
According to the BBC some people staying at a hotel in Tunis said when they tried to leave the property they were stopped by security guards and unable to leave until the bill was paid. About fifty thousand tourists were stuck on Greece, some still waiting to get a flight home.
Spain, Turkey and Tunisia also had thousands of passengers in need of a flight home. One couple, a man coincidentally named Thomas Cook, and his fiancee, were promised a wedding surprise because of the common name. That surprise turned out to be the possible cancellation of their wedding after payment for everything was denied.
And you thought a flight delay was bad.
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CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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