Isn’t it also usually the case that in these circumstances those at the top also still manage to keep their big mansions, holiday homes abroad, yachts and expensive cars! They seldom own any of these assets, their wives legally own them!
It’s all one big fiddle, thieving lot of rogues that most of them are! 
Perhaps someone can add to this . I know that if a company is a LTD Company when it goes into liquidation the directors ( owners etc) usually are protected as they are classed as employees of that company and therefore they wont loose their possessions like houses and cars etc etc . Yet those who they owe money too have to try and fight to get money from the company that is owned by companies house.
I dont know if Thomas Cook are a LTD company but I bet there are get out clauses somewhere . It will be the employees and trades that will.suffer financial loss
The shareholders in this company were quick to take dividend payments from the company’s success but as soon as the company got into difficulty they couldn’t be seen for dust. And as for senior management, they acted in the same way as all senior managements in large companies, they got their wages and bonuses as soon as the writing was on the wall. Carillion acted in exactly the same way, the management made sure of their excessive bonuses before the liquidators moved in. Employees and suppliers got nothing.
The laws controlling bankrupcy need completely revising!
They were invented to protect the rich originally and it seems
they still do?
When ordinary people lose half their pension money to these
Scumbags something is really wrong!
I think the employers portion of pension contributions should
be payed into the same fund as the employees and managed
by an independant insurance company?
Regards Donkeyman!
Yes, we got it back okay today thanks, Baz.
I cancelled the direct debit and rang the bank to stop it. My SD will find another holiday we can do instead.
Gives me a bit of extra cash this month now!
The above ^^^^^^
Disgusting isn’t it.
Companies get far too greedy imo. They buy up all the little companies giving the public less and less choice, then they go bust.
This is a holiday company. But what if this happens to a healthcare company or major medicines supplier? What if a power supplier goes bust? This is the risk we have to deal with if things continue this way. The whole infrastructure of our country relies on these companies staying solvent.
George Galloway said today that it will cost the government more to bail out and support the resulting unemployed personnel than it would have been to help save the company.
The directors’ and major shareholders’ bonuses, pensions and the majority of their personnel assets should be taken off them to settle the emoyees debts, pensions and redundancy packages.
There will be a bloody long investigation first though by which time those poor people’s lives who lost their jobs could be irrepairably damaged.
The sranded holidaymakers will be back home within two weeks. The Thomas Cook employees have lost their income.
Not forgetting of course all those businesses that relied on Thomas Cook for their work. The loss of jobs doesn’t stop with just that company, there will be many thousands of other people who may lose their income as a result.
That’s right Baz, as I spoke about in my earlier post 
The support staff, suppliers, caterers, cleaning staff and even their solicitors and those people in the background who were contracted out to Thomas Cook.
My mate’s daughter is a freelance travel agent (and a former Thomas Cook courier) whose main point of contact was Thomas Cook for helping her with her business and she will be hit very hard by this collapse.
I know in my job if we lose a contract for a big customer, i.e. they stop the tender with us and go somewhere else, we sometimes lose many hundreds of thousands of pounds in revenue. That goes down the line: It affects the company’s profits and in turn the staff sometimes lose their jobs (usually slimming down office staff or losing agency workers) and ultimately we miss out on a bonus payment, which we all look forward to every six months. They don’t have to pay us a bonus but it’s a nice gesture and a reflection on the company doing well and it’s a moral booster, which is most welcome.
Apologies Floydy, I missed your earlier post.
A young family member of mine, just starting out in the world of work, was hoping to get full-time work with Thomas Cook. She was working freelance on an ‘as and when required’ basis, filling in for maternity and sickness leave of those employed full-time in their design and graphics department. When the last ‘warning signs’ occurred she was ‘no longer required’, probably just as well as it happens. Just another example though of how the demise of a company can affect so many.
When I was working we used to have a saying ‘any job is only worth a fortnight’, relating to the notice period usually required when leaving a job. That took away some of the awful feelings of disappointment, whatever the reasons for the job going. It was then on to find other employment. ‘Onwards and upwards’ as was another saying. 
You can never be too sure about a job, Baz. Even if a job seems to have great security it could fold overnight, as Thomas Cook has shown.
It’s the big wigs in charge who should be accountable though. They have obviously been running their company without too much ‘hands-on’ experience and it’s been going down the swanny, obliviously to them probably. They will mainly have been playing around on the private millionaire yachts to take any notice.
Does this ring any bells? Philip Green? That bastard is still living in the lap of luxury while his past employees are struggling on the bones of the arse every week without pensions or redundancy packages.
Yes it certainly does, and memories of another one from 30 years’ ago – Robert Maxwell (now dead). He ‘raided’ the Mirror Group pensions fund to the tune of about £460 million. Employees who had contributed all their working lives to ensure comfortable retirements lost out totally, many died without receiving a penny of their pensions. An appalling scandal and one that was never resolved either.
Interesting to note Robert Maxwell’s chequered past, especially his ‘connections’, just look at his luxurious lifestyle on the link below:
“His death on 5 November 1991 shocked the country. Shock turned to anger within weeks when a £460m hole was discovered in the pension funds of his companies. A borrower of unimaginable scale, he had illegally raided the funds to prop up his empire, which was on the brink of collapse. Headlines such as The Man Who Saved the Mirror were swiftly replaced by Maxwell: The Robber.”
More information on this link to Wikipedia:
I remember it well, Baz. Just a pity he wasn’t ever brought to account for his failings and took the easy way out by killing himself (allegedly, drowning or ‘falling off’ his yacht).
He was the biggest money-grabbing thief in business the world has ever known.
No one supports those who are left without pay or money owed they are just cast adrift . I think unemployment benefit is about £63 per week now . How can they live on that . These are people who have been loyal staff and workers . Yet the big wig directors shave off all they can prior to the liquidation .
I feel for these unemployed people today .
Single person Newstyle JSA
£ 57 .90. Under 25
£ 73. 10 otherwise
This is useful .https://www.entitledto.co.uk/help/jsa
Zuleika Thankyou . That isn’t enough money to live on is it . I feel for them
Thousands all over the country are having to tho .
Another useful site https://www.citizensadvice.org.uk/benefits/help-if-on-a-low-income/jobseekers-allowance-jsa/before-you-claim-jsa/check-if-you-can-get-jsa/
