The fall of Thomas Cook and how to survive
Is the collapse of the Thomas Cook Group a sign of trouble ahead for travel and tourism? Or an opportunity for alternative business models to take off? Charlie Mellor investigates.Sun, sea and insolvency is all too familiar in the travel industry. The collapse of tour operator giant Thomas Cook is the latest to demonstrate the consequences of such failures, with suppliers, staff and holidaymakers losing out.
The demise of one of UK tourism’s founding fathers has sparked intense soul-searching, including a parliamentary inquiry by the Business, Energy and Industrial Strategy (BEIS) Committee.
So what brought down Thomas Cook? And what more can businesses learn about the headwinds buffeting the sector?
This is an extract from the Business & Management Magazine, Issue 280, December 2019.