Thomas Cook faces collapse as marathon talks end

Thomas Cook faced collapse Sunday night, as knife-edge talks to secure a GBP1.1b rescue deal for the travel group ended without a deal announced. One person close to the negotiations said that administration was expected as stakeholders awaited final confirmation from a board meeting that followed the rescue talks, adding that there were “too many factors that need to change”. Another involved in the restructuring deal said “there could be a last-minute reprieve, but the signals are bad.” Talks which started at 9am Sunday, were the latest attempt to salvage a GBP900m rescue deal between Thomas Cook, its lenders and its largest shareholder, the Chinese conglomerate Fosun. <br/>