Thomas Cook boost | City & Business | Finance | Express.co.uk

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Thomas Cook boost | City & Business | Finance | Express.co.uk"


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The two sides were working on a deal that would see the banks stump up £100million to help the troubled tour operator trade through the traditionally quiet pre-Christmas period and into the


peak January booking season. Although they are keen to reach an agreement before the market opens on Monday, the situation is complicated because there are 17 banks involved. ** CLICK HERE


TO CLAIM A FREE COPY OF ONE OF OUR MONEY & FINANCE GUIDES ** One source said: “We are trying to get a solution that will turn the company around but with so many banks in the syndicate


it could take quite a while to thrash out.” Thomas Cook shares rose 10 per cent, up 1¾p to 18p, on top of a rise of a third the previous day. They crashed 75 per cent on Wednesday after the


company, with debts of £1.1billion, asked lenders to come to the rescue for the second time in five weeks. Broker Numis said: “We believe that Thomas Cook will continue to trade – but it is


already apparent damage is being done to its brand reputation.”


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