Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Dutch branch of the tour operator Thomas Cook has been declared bankrupt by the Amsterdam court. Thomas Cook Nederland includes operating companies and trade names such as All Air, All Seasons, Escapade Voyages, Europa Exclusief, Neckermann, Neckermann Reizen, Neckermann Vliegreizen and Thomas Cook. Thomas Cook Nederland employs around 200 people who will all receive a letter of dismissal at very short notice. In the days before the bankruptcy multiple potential solutions were looked at but none proved to be sufficient.
Thomas Cook main branch, the one in the UK entered compulsory liquidation on 23 September and an order had been granted to appoint an official receiver to liquidate the company.
The Belgian branch of the company announced bankruptcy on the same day (30 September) resulting in 575 jobs lost.
Eurofound (2019), Thomas Cook Nederland, Bankruptcy in Netherlands, factsheet number 98789, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/98789.
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