After the Thomas Cook Group Plc ceased trading on Sunday, 22 September, Thomas Cook Retail Belgium intensively investigated all possible options to continue all or part of its activities. On 24 September, Thomas Cook Belgium, Thomas Cook Retail and Thomas Cook Financial Services went into receivership.
In recent days, the Belgian management and employees have continued to work intensively to restart Thomas Cook Retail Belgium, employing 501 in 91 travel agencies.
There was interest from various tour operators, hoteliers and investment companies in Belgium and abroad to take over all or parts of Thomas Cook Retail Belgium.
The biggest challenge, however, remained the cash position in the very short term. Thomas Cook Retail Belgium immediately needed €5 million in order to successfully apply for a judicial agreement.
“Despite very intensive discussions with various parties up to the last minute, there is unfortunately no agreement on this necessary short-term financing,” the management wrote in a press release.
“As a result, Thomas Cook Retail Belgium is not in a position to realize a successful transition to a judicial settlement. The Board of Directors of Thomas Cook Retail Belgium is therefore forced to file for bankruptcy.
The management very much regrets that it was unable to find a solution for this profitable company and its passionate employees. We expressly thank all our employees who have done everything for our organization up to the last day with extreme dedication. We sympathize with them in these difficult moments and do everything we can to support them as well as possible, together with the social partners.
Finally, the management also wishes to thank its customers for their years of trust.“