Iconic British travel firm Thomas Cook has failed to find further private investment to stave off collapse and is now relying on an unlikely government bailout, a source close the matter told AFP on Saturday.
The operator said Friday that it needed 200 million pound ($250 million, 227 million euros) — in addition to the 900-million pound rescue deal secured last month — or else face administration, which could potentially trigger Britain’s largest repatriation since World War II.
A source close to the negotiations told AFP the company had failed to find the 200 million pound from private investors and would collapse unless the Government intervened.
