Why did Thomas Cook, a 4-year-old travel company, file a bankruptcy of $ 2 million?

Thomas Cook, the world's oldest travel company, has declared bankruptcy and closed its business. Thomas Cook was founded in the year 1 with little capital investment. At present, around one lakh tourists are trapped in the closure of the world's largest travel company. According to Britain's Secretary of Transportation, Grand Shapes, dozens of chartered planes are being leased to bring the trapped tourists to Britain.

Thomas Cook had a chance to shutter his debt of Rs 1 crore. In a single instant, the jobs of 200,000 people have also been stripped. In Britain, Germany and Italy, this travel company was a good business. The impact of Thomas Cook's bankruptcy is likely to affect India's tourism as well. When the travel industry was in a recession due to the impact of the global recession, the sinking of the world's oldest travel company would add difficulty. Thousands of European travelers were visiting India to take advantage of Thomas Cook's travel package.

In the year 1 Thomas Cook's fall began

Thomas Cook and UK travel company My Travel were merged in the 5th. The departure of My Travel is believed to have been a suicide for Thomas Cook. Thomas Cook was slowly getting into debt. Thomas Cook was faced with a huge competition by a company called Jet2. Last month, a Chinese investment firm, Foshan, signed a $ 1.8 billion rescue deal when it hoped the company would get out of the financial crisis. However, after the deal was not successful, the company was sunk with a debt of Rs 1 crore.

Thousands of losses to Thomas Cook from e-commerce base companies

Social networking and e-commerce base companies have suffered the biggest loss to Thomas Cook. Anywhere in the world you can find a large number of sites offering low-cost air travel. This is the case with hotel industries, taxi bookings and fast food. Of the 4,000 employees spread across the world of Thomas Cook, 3,000 are employed in Britain alone. Thomas Cooke's debt has put 1.2 million tourists in Britain and 3,000 tourists in Greece in trouble. Thomas Company's travel planes have been canceled and travel agencies have stopped business. Like Thomas, Cook's share of rival companies has seen a surge in shares. Tourist bookings during the vacation also declined due to the uncertainty of Brekzik.

Thomas Cook was founded in 1 in Market Harborough, Britain

Thomas Cook was founded in the 5th century by a British citizen, Thomas Cook in Market Harborough. After the launch of the railway line in Britain, it became synonymous with vacation for both the employed and the wealthy. After the Industrial Revolution, the company debuted its tour of Europe in the middle class of the eighties. The tour began in the 8th to America. Thomas Cook became an international company in the 8th. John Cook Mason Cooke took over the company business after Thomas Cook, the founder of the company, died in the year. In 840, Frank's grandson, Frank and Ernest, sold the company's business to other owners.

Britain's middle class sparked a travel hobby after the Industrial Revolution began

Thomas Cook was the first company in the world to launch the Family Holiday Package in the 5th. After the Industrial Revolution began in Britain, the company became a middle-class travel hobby and its first trip from London to Paris. Now, the condition of 5 lakh tourists booking a hotel in the world by a 5 year old company has become confusing.

Thomas Cook was taken over by the British Government in the 5th

Railways were nationalized in Britain after World War I, in which Thomas Cook, the salesman, was taken over by the government. Thomas Cook was again in the hands of private companies. Thomas Cook was jointly purchased by Midland Bank, Hotelier Trust House Fort and the Automobile Association. Despite the crude oil crisis in the Middle East and labor strike in Britain, the rest of the travel companies survived. A German consortium took over Thomas Cook in 8th. Three years later the German company C&N Touristic AG bought and renamed it Thomas Cook AG.