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Coming up on this week’s episode, I am going to look at the 2019 collapse of Thomas Cook, a 178 year old veteran of the travel industry that, seemingly, disappeared overnight.
Like all corporate collapses, the seeds of Thomas Cook’s destruction were sewn long before the final coup de grace. Ill-thought through acquisitions. A ‘bloated retail footprint’. An inability to keep up with the increasing commoditization of the travel market.
In the end, the collapse of Thomas Cook was less than an overnight collapse, and more of, what website skift.com calls ‘a disaster played out in slow motion’.
The Risktory Podcast is created, written, produced and hosted by Jacinthe A Galpin.
Soundtrack (sourced from www.freemusicarchive.org) Alan Spiljak – Clouds Alan Spiljak – Forgotten Alan Spiljak – Light blue Alan Spiljak – Empty days Alan Spiljak – Stars above Alan Spiljak – Not the end Alan Spiljak – Sun Alan Spiljak – Flying away Alan Spiljak – Time Alan Spiljak – Fantasy in my mind
Bibliography https://www.cityam.com/timeline-thomas-cooks-humble-beginnings-to-a-billion-pound-collapse/ https://time.com/5683934/thomas-cook-travel-collapse/ https://www.bbc.com/news/business-46452374 https://www.independent.co.uk/travel/news-and-advice/thomas-cook-collapse-travel-abta-corporate-finance-failure-mark-tanzer-a9146851.html https://skift.com/2019/09/30/debt-egos-and-bad-decisions-how-thomas-cook-failed-to-adapt-to-a-new-era-of-travel/ https://en.wikipedia.org/wiki/Thomas_Cook_Group
Equipment I use *RODE NT USB Bundle Pack (mic, tripod and boom arm included) - https://amzn.to/37OZI6T *Adobe Audition - https://amzn.to/2OjXchn
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