Thomas Cook’s executives, banks and bondholders are in talks at a City law firm on Sunday in a last-ditch bid to save the 178-year old UK travel company from collapse.
The talks at Latham & Watkins in Bishopsgate are the latest since a £900m rescue deal Thomas Cook hammered out with Chinese conglomerate Fosun were thrown into doubt after its banks last week demanded another £200m to sign up to it.
The lenders, which include Royal Bank of Scotland and Lloyds Banking Group, are seeking the money to ensure Thomas Cook can survive through the quieter winter period. Unless £200m is found — or the request is withdrawn — Thomas Cook faces going into administration.
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