Thomas Cook Has Just Bought Their most Expensive Holiday !
Thomas Cook, the well known Holiday Travel Agent Company has been saved from what may have been closure. As a result thousands of holidays all over the world have been saved. This may well be the most expensive Financial Holiday ever for the company.
Troubled holiday firm Thomas Cook has has just secured a £200m credit facility, amid fears it would be forced to shut 200 travel agencies to stay in business and despite it’s shares in the company falling by 75% . Banks such as Barclays, HSBC, Royal Bank of Scotland and UniCredit SpA all stepped in to help save the company.
It is a clear sign that the global economy is far from being on the road to recovery and that fears continue to grow that we are heading for a double dip recession, in fact a global one. As more and more larger companies close down, the knock on effect on smaller businesses continues to rocket forcing more people out of employment and struggling to make ends meet.
Thomas Cook is not the only company to hit the headlines this week… Topman, owed by the Aracia Group looks as though it is in trouble due to it’s sales and profits shrinking by over 46%.
The ethics of saving the big companies to help save smaller businesses that form part of the supply chain, may well be the way forward, but one can’t help thinking that more money should be made available for new business start ups and to help create more exports and jobs.
It looks as though global unemployment will continue to increase over the next 12 months or so. As it does the cost to the government will continue to rise.
What is clear though, is that people are becoming more wary at what the governments promise making individuals stand up more for themselves in search of securing a better future. Applications for better education have increased as people seek new skills in the same way as individuals are now seeking to start their own business and work from home.