Can Thomas Cook find a path through its perfect storm of woes?

Debt, market changes, heatwaves and Brexit have left the 178-year-old business battling to survive

Thomas Cook is suffering from an interminable holiday nightmare. It has been struck by a combination of high debt, intense competition and one-off factors including last summer’s heatwave. Brexit uncertainty is also, inevitably, a contributing factor.

This welter of concerns has brought a 178-year business to the brink. Eight years after its near-collapse in 2011, the tour operator needs a bailout if it is to survive the coming winter, when holiday bookings typically tail off.

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