British travel group Thomas Cook on Monday declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK's biggest repatriation since World War II to bring back tens of thousands of stranded passengers.
"The company's board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect," the statement added. Both a tour operator and an airline, the travel giant's key destinations were in Southern Europe and the Mediterranean but it also offered holidays in Asia, North Africa and the Caribbean.
Reports said a collapse of the group would mean the repatriation of 600,000 tourists, including around 150,000 seeking government help returning to the UK.
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