Holidays with Thomas Cook safe despite Arcandor collapse
By Darren Cronian on Wednesday, June 10th, 2009

I have received a number of emails from worried consumers regarding the news that the main shareholder, of Thomas Cook, Arcandor, has gone into administration. Please do not panic as far as I am aware your holiday is safe.

Holidays with Thomas Cook safe despite Arcandor collapse

The information I have at the moment is that your holiday is not affected because the tour operator is a separate business.

According to Thomas Cook it is business as normal. When I have more information on this I will update this post and if you have any specific questions please leave them in the comments section and I will try and get someone from Thomas Cook to come by and help.


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3 responses to “Holidays with Thomas Cook safe despite Arcandor collapse”

Nick | 10 June, 2009 at 11:10 am

Darren

Arcandor is just a share holder and are not involved in the running of Thomas Cook, this is the same with any company when a share holder goes bust. The shares are placed on the Market. Yesterday Thomas Cook shares went up at the news. It is nothing to worry about at all.

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Darren Cronian | 10 June, 2009 at 11:30 am

@ Nick

Thank’s for clarifying that. I did not think that there was nothing to worry about, but I’ve received a dozen emails (not hundreds I know) from consumers, primarily because of the press attention the story has received. So I thought it was worth posting something to help consumers.

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Alex Bainbridge | 10 June, 2009 at 1:10 pm

“I did not think that there was nothing to worry about”
Darren – you should be a politican with doublespeak like that! :)

Direct quote from FT.com
“The failed German retail group has pledged its 52.8 per cent majority stake as collateral on some of its loans. Speculation that it could be forced to sell its position pushed up Thomas Cook’s shares by more than 10 per cent.”

So change coming, yes. However consumers should be fine – its just like a football club changing ownership. You support the team not the owner!

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