Thomas Cook: What went wrong at the holiday firm?

September 23, 2019 5:58 pm Published by

It’s been a long journey for travel firm Thomas Cook since its formation in rural Leicestershire during the early Victorian era. Founded in Market Harborough in 1841 by businessman Thomas Cook, the fledgling company organised railway outings for members of the local temperance movement. Some 178 years later, it had grown to a huge global travel group, with annual sales of £9bn, 19 million customers a year and 22,000 staff operating in 16 countries. Thomas Cook had a chequered history, including being nationalised in 1948 – when it became part of the state-owned British Railways – and owning the raucous Club 18-30 youth brand, which it recently closed after failing to find a buyer. However, just as the travel world... View Article

More than 1,400 UK restaurants close as casual dining crunch bites says the Guardian

September 17, 2019 1:54 pm Published by

Insolvencies in year to the end of June 2019 increased by 25% – the highest since at least 2014. More than 1,400 UK restaurants collapsed in the year since June 2018 – underlining the scale of the so-called “casual dining crunch”, which has led to customers turning their backs on chains such as Byron, Strada, Gourmet Burger Kitchen and Jamie Oliver’s restaurant empire. The number of restaurants falling into insolvency in the year to the end of June 2019 increased by 25% to 1,412 compared to 2018, according to research by the accountancy firm UHY Hacker Young. It is the highest number of insolvencies since at least 2014 and is said to reflect tightened consumer spending on the back of... View Article