Thomas Cook

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Thomas Cook
BirthplaceMelbourne, Derbyshire

Cook, Thomas,

1808–92, English travel agent. In Leicester in 1841 he founded a travel agency under his name. The idea of the guided tour met with quick success, and by 1852 Cook had moved his office to London. Shortly thereafter he set up (1856) his Circular Tour of Europe, and 10 years later he was arranging tours of the United States. His most spectacular achievement was the transportation of an entire expeditionary force (18,000 men) up the Nile for the attempted relief of Gen. Charles George GordonGordon, Charles George,
1833–85, British soldier and administrator. He served in the Crimean War, went to China in the expedition of 1860, taking part in the capture of Beijing, and in 1863 took over the command of F. T.
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 in 1884. His descendants ran the travel agency until 1928, when they sold it to the Belgian railroad company that operated the Orient Express.
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Fosun will also acquire 75% of Thomas Cook's tour operator business and 25% of its embattled airline.
It was also claimed a member of the cabin crew was assaulted, however Thomas Cook was not able to confirm this.
Thomas Cook has suffered recently as a result of mounting debts, reporting a PS1.2 billion net debt in its half-year results in May.
Fosun said that it, along with Thomas Cook's "core lending banks", are considering the proposal to invest capital into the troubled firm.
As news broke on Friday, shares in Thomas Cook plunged more than 40% over the deal which would effectively hand over full control of the company.
The confirmation follows reports over the weekend that Fosun, Thomas Cook's largest shareholder, was eyeing up a deal, paving the way for the complete break-up of the British travel company.
The Chinese tourism company, which is Thomas Cook's largest shareholder, has approached the company
The possible takeover also puts a major question mark over the fate of Thomas Cook's 20,000-strong workforce.
Closures will result in Thomas Cook's retail estate reducing to 566 shops, with the jobs to be lost including 102 customer-facing roles and a further 218 store-based roles removed as part of the review.
Thomas Cook's willingness to do what it takes to get its house into order saw Wall Street send the group's shares 12 percent higher yesterday.
HOLIDAY giant Thomas Cook has put its airline up for sale to slash debts and turbocharge a turnaround.