Hundreds of thousands of holidaymakers were stranded on Monday by the collapse of the world's oldest travel firm Thomas Cooksparking the largest peacetime repatriation effort in British history. The liquidation marks the end of a British company that started in running local rail excursions and grew to pioneer the family package holiday across Europe, America, Africa and the Middle East.

Running hotels, resorts and airlines for 19 million people a Holiday Company Collapse, it currently has aroundpeople abroad and will need the help of governments and Compayn firms to bring them home from places as far afield as Cancun, Cuba and Cyprus.

Thomas Cook's demise, announced in the early hours of Holiday Company Collapse after failing to secure a deal with creditors or a government bailout, sparked alarm at hotels where some customers have Vikas Gupta Bad Company asked to pay their bills again by out-of-pocket resort owners.

As well as its 21, employees, the company's fall hit global booking websites, credit card companies, travel firms using its airlines and British high streets where its travel agents were forced to shut. It had to sell Baraboo Candy Company million holidays a year just to cover interest payments. As it struggled to pitch itself to a new generation of tourists, the company was hit by the coup attempt in Turkey, one of its top destinations, and the Europe-wide heatwave which deterred customers from going abroad.

It Collspse agreed a million pound rescue package with its banks and largest shareholder, China's Fosun, but lenders asked for an additional million pounds to keep it operating through the winter. Prime Minister Holidaj Johnson pledged to get stranded British travelers home, increasing pressure on the government just as it tries to negotiate an incredibly complicated withdrawal from the European Union.

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Thomas Cook's German airline subsidiary, Condor, Colpapse there werepeople booked on its flights awaiting a return home. Its flights are still operating for now, and Holliday has asked the German government for a bridging loan. In Germany, insurance companies coordinate any repatriation. There are around 50, holidaymakers affected in Greece, and Holiday Company Collapse 35, from Nordic countries using Thomas Cook.

At Manchester Airport in northwest England, Collpse Thomas Cook branding was removed from Holieay desks. Pictures posted on social media showed staff walking away from their final flights. Founded by a Baptist preacher who wanted to steer workers away from sin, Thomas Cook went on to forge the foundations of modern mass tourism.

On Monday, though, its own year journey came to an end. UK customers were told not to travel Compxny airports until they had been informed via a special website that they were booked on a return chartered flight. The website showed some flights were returning to different British airports, but many were only running a few hours behind the original Thomas Cook scheduled flight and the system appeared to be working well. That was after some customers were briefly Hooliday in a hotel in Tunisia when staff asked for additional payments to be made.

In the longer term, the collapse could hit the tourism sectors in the company's biggest destinations, such as Spain, Greece, Turkey and the Canary Islands, where some hotels work exclusively with Thomas Cook. Bondholders, banks and shareholders also lost out, while aircraft leasing companies were reclaiming their planes. All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U. Key Points. A woman looks at holidays for sale in a Thomas Cook travel agent Collspse in Bristol, England.

VIDEO UK Compaany on Thomas Cook collapse: 'Nobody will be stranded'. Trending Now. News Tips Got a confidential news tip? We want to hear from you. Get In Touch. CNBC Copany. Market Data Terms of Use and Disclaimers.