The company on Friday acknowledged a request from its lenders to raise an additional £200 million necessary to secure a rescue deal, led by its largest shareholder.
But after a crunch meeting in the City over the weekend, the CAA confirmed the company’s failure at around 2am today (23 September).
The collapse of the group includes the UK tour operator and the airline. AlixPartners and KPMG have been appointed as special managers to oversee the liquidation.
All Thomas Cook bookings, including flights and holidays, have now been cancelled.
