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Thomas Cook triggers historical bankruptcy

National News // Nov. 11, 2019

The collapse of the British travel firm Thomas Cook has triggered one of the biggest bankruptcies in Swiss history.

Pixabay Thomas Cook triggers historical bankruptcy

Its Swiss subsidiary based in canton Schwyz is facing millions of francs in claims. The local bankruptcy office say they have already received over 5,000 claims and expect more.

It’s likely to be bigger than the Swissair failure in 2002.

The Swiss branch of Thomas Cook sold package holidays to customers right across Europe.

The final bill will be several million francs.

 

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