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Liberal Party NEC Statement - Failure of Thomas Cook as its enters Administration
The Liberal Party notes with anguish the collapse of the Thomas Cook group leaving hundreds of thousands of customers awaiting repatriation from holiday destinations and thousands of staff made redundant.

After a span of 178 years the company had been forced into administration by a perfect storm of changing holiday booking habits, unsustainable debt, and an uncertain business outlook due to political instability in key holiday destinations and subdued domestic demand.

Although the party accepts the arguments for not extending a taxpayer funded bailout to prolong the company’s existence, serious question still needs to be asked about its failure.

We welcome the government scrutiny into the collapse and urge the government to ensure that holiday makers who travelled with Thomas Cooks are not in any way put under any extra stress or hardshipsdue to demands for money  and that  proper measures are put in place to protect any future holidaymakers should there be similar collapses of travel companies.

The sustainability of a traditional bricks and mortar business in the face of new technology should not translate into administration and closure.

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