Thomas Cook needs £200m to keep doors open
Lenders demand more funds to maintain support after recapitalisation deal with Chinese shareholder Fosun
20 September 2019 - 09:28
Britain’s Thomas Cook said its banks had ordered the company to find an additional £200m of funding to guarantee the survival of the world’s oldest holiday company.
Thomas Cook agreed the main terms of a £900m recapitalisation plan in a deal with Chinese shareholder Fosun in August, but on Thursday a source said that lenders were demanding another £200m in underwritten funds to maintain their support...
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