Almost a week after the collapse of Thomas Cook, the cost of failure looks as severe as feared. On social media, you can find desperate former Thomas Cook airline crew and branch staff appealing for new employment opportunities. Should the government have saved Thomas Cook instead? Given that Thomas Cook itself almost failed in 2011, reducing debt should have been the absolute priority. As for the accounting angle, Reeves’s committee must ask why Thomas Cook recorded so many one-off charges and “separately disclosed items” over the years.

Source: The Guardian September 29, 2019 06:17 UTC