Professional Services
Professional Services Firm
Full Credential Description
Thomas Cook faced significant challenges due to the transformative impact of online travel sites, budget airlines, and other disruptive forces in the travel industry. The company had accumulated substantial debt from various acquisitions and was in dire need of financial restructuring to maintain solvency. we was engaged to assist with this restructuring process and to develop contingency plans in case the restructuring efforts failed, which ultimately occurred.
As a result of the compulsory liquidation of Thomas Cook, we played a crucial role in executing the largest peacetime repatriation of UK citizens in history, with 140,000 UK travellers stranded worldwide. A specialized team from we was tasked with evaluating the company's IT infrastructure to establish an efficient framework for the wind-down process. Within the first three months of liquidation, over £150 million was generated, with ongoing asset realization efforts aimed at preserving the company's legacy. This operation not only highlighted the logistical challenges faced but also underscored the significant financial recovery achieved during a critical period.