British travel giant Thomas Cook has collapsed after last-minute negotiations aimed at saving the 178-year-old holiday firm failed.
One hundred and fifty thousand tourists were left stranded as the Tour giant collapsed on Sunday night.
The UK Civil Aviation Authority (CAA) said the tour operator has “ceased trading with immediate effect”.
The collapse has put twenty thousand jobs at risk and has resulted in all of the company’s flights and holidays being cancelled.
It has also triggered the biggest ever peacetime repatriation effort to bring hundreds of holiday makers home.
Thomas Cook’s chief executive said the firm’s collapse was a “matter of profound regret”and apologised to the firm’s “millions of customers, and thousands of employees”.
