Thomas Cook Germany Goes Down Too
The Thomas Cook domino effect continues to be in full swing with its Germany subsidiary, Thomas Cook GmbH, announcing this week that it had cancelled all trips for 2020 leaving some 660,000 customers and 2,100 employees affected.
After the collapse in September of Thomas Cook UK, its German branch, the country’s second largest tour operator, failed to find a buyer with cancellations also in effect for trips reserved through Thomas Cook Signature, Thomas Cook Signature Finest Selection, Neckermann Reisen, Oeger Tours, Bucher Reisen and Air Marin, as well as flights booked through Swiss company Thomas Cook International.
The company’s managing director, Stefanie Berk, apologized for the outcome. At the same time, insurer Zurich Germany said it was looking into reimbursement claims adding that any compensation would unlikely cover the full costs paid.
Zurich Germany said it had already received 150,000 claims by November 1, totalling over 250 million euros not including the cost of repatriating stranded holidaymakers through Thomas Cook Germany when the mother company folded.
Thomas Cook GmbH had filed for protection from its creditors in September.