Thomas Cook has confirmed that it’s looking for £200 million in extra funding because it makes an attempt to prevent a collapse.
The tour operator stated it’s in talks with stakeholders, together with main shareholder Chinese agency Fosun, to bridge the funding hole.
In an replace to the market, it stated the fundraiser is predicted to considerably dilute current shareholders’ stakes in the agency, with “significant risk of no recovery”.
It comes after the Daily Mail quoted firm insiders as saying the 178-year-old journey agency may go bust as early as Sunday.
If the corporate collapsed, round 180,000 prospects can be stranded overseas, the newspaper stories.