Does this mean TC has folded?

[Minnie18]

Originally Posted by CookieMonster54

Regardless of being in the EU the government shouldn’t be getting involved why should our taxes be used when companies have made significant losses through no fault but their own

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Spot on I 100% agree. And where would it stop would they bail out Debenhams/Boots etc or small family businesses who are on the brink. I don't think so.

[Guest]

Originally Posted by jocesk

She I’ll still be covered by atol won’t she? If not I’d tell her to pay for some insurance right now

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Too late, the insurance will have the time it was enacted on it.

As it's public knowledge that TC is a knife edge away it won't be covered as all insurance has a clause saying if it is known or expected that the company will fail at the time of inception blah blah blah

Sorry but there only hope is a bailout. Cash creditors will be at the back of queue for repayments and will probably see 10/20p per pound owed in about 2 years from now

I know it's not rosy but if they go under that's the best someone paying in cash can expect.

That's why I no longer book with a well known TA on here who only deals in bank transfers, in case this happens to them.

[IndianaMac]

Another thing that stinks is that the fire sale to raise the £200M doesn't appear to be getting buyers, but guarantee if the administrators come in, BA, Virgin, all sorts of vultures will circle and pick up what they could've bought now, but for a bargain knock down price... And then, they'll sell those services to customers at a higher rate than TC, because greed.

And we'll buy it. Because for 47-49 weeks of the year we work, and want something nice every now and then.

/just ranting... Never the big guy out of pocket, is it?

(totally rhetorical post... Don't tell me that's the way of the world, I know it is. Still sucks though)

[Minnie18]

Originally Posted by IndianaMac

Another thing that stinks is that the fire sale to raise the £200M doesn't appear to be getting buyers, but guarantee if the administrators come in, BA, Virgin, all sorts of vultures will circle and pick up what they could've bought now, but for a bargain knock down price... And then, they'll sell those services to customers at a higher rate than TC, because greed.

And we'll buy it. Because for 47-49 weeks of the year we work, and want something nice every now and then.

/just ranting... Never the big guy out of pocket, is it?

(totally rhetorical post... Don't tell me that's the way of the world, I know it is. Still sucks though)

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It's ok, I totally understand and agree with you. I am livid at TC how could they get into this mess. Bad management and probably the big I am s getting big bonuses. I feel so so sad and angry for all the staff and all the holiday makers who have worked and saved for a holiday.

Just read on another post that Monarch had asked for a government bail out at the same point and got refused. I didn't know that information. It just makes me think it's not if now its when. TC really just need to grow a pair and shut it down then everyone will know and can start dealing with the after effect.

[SlinkyDog73]

Originally Posted by Minnie18

It's ok, I totally understand and agree with you. I am livid at TC how could they get into this mess. Bad management and probably the big I am s getting big bonuses. I feel so so sad and angry for all the staff and all the holiday makers who have worked and saved for a holiday.

Just read on another post that Monarch had asked for a government bail out at the same point and got refused. I didn't know that information. It just makes me think it's not if now its when. TC really just need to grow a pair and shut it down then everyone will know and can start dealing with the after effect.

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Totally agree with you on this...

[duchy]

Originally Posted by bennyboy0751

well said yorkshire but according to the times at approx 12.01 ministers are inclined to refuse i think it has more to do with the regulations on bail out but just listening to lbc and a so called expert called simon telling everybody to go and book holidays at TC today as great deals unbelievable really but said all out already will be flown home but not possibly at the original airport and transport will take folk to original airport if needed

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Simon Caulder ?
That man drives me insane, his advice is down right dangerous at times. When he had advice programmes on radio years ago I learned to turn him off straightaway for the sake of my blood pressure. Nothing has changed .
A last minute bail out is still possible but I certainly wouldn't advise anyone to book a late holiday with them although I do see the logic in booking a more distant trip with them at an attractive price knowing it'll be ATOL protected.

[EssexSue]

I googled them for update and got their flight for MCO for today. Err no thanks.

[Omega1]

I feel sorry for the folk affected, there are some really sad stories. I vowed several years ago never to book TC after their dreadful treatment of the Shepherd family following the tragic death of their children by carbon monoxide poisoning whilst on a TC holiday. TC were deemed negligent but their CEO, Peter Fankhauser showed a callous disregard even though the evidence against the company was overwhelming. His stewardship of the company has been nothing short of disastrous.

[duchy]

Originally Posted by welshmum

I really hope for everyone travelling with TC, this gets resolved, I cant imagine how everyone must be feeling right now.

Also feel for the 20,000 TC staff who will be in limbo about their jobs.

Keeping everything crossed for customers and employees x

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I do feel for their staff. I was working for a travel company that went bust , we knew it was coming and couldn't say anything to customers. I was literally fobbing customers off actually booking so they wouldn't book right before and have money tied up as although I was told book as normal but morally I wouldn't do it. It was a horrible time and I feel for the staff who I'm sure were fed a lot of lies in the last few days.
I have a friend who is due to fly to Vegas next weekend , she has not a lot of money and is going for a one time event so rebooking won't Help her. She went into her TC branch yesterday and was assured they won't go under and her flights are safe. I feel sick for her , I've worked in the business long enough to know branch staff can't give that kind of assurance and are been fed bull from above themselves at this point. It's a horrible situation.

[Guest]

I can see why Virgin (or another TA) won't buy a part of TC today to fund the 200m

Why would you buy (for example, and I know it's too cheap) their airline for 200m when you know if they go pop you can pick it up from the administrators in 3 months for 75m

It's the same as us going I need a new sofa, but I won't buy it until DFS bank holiday sale (if any business bought parts of TC right now their shareholders would crucify them as it shows terrible financial awareness to buy at a going rate something you could get a shirt while later in the bargain bin)