How risky is Thomas Cook?

ellay864

We're getting married in October but won't be able to get time for a proper honeymoon until next year, so we decided to ask for Thomas Cook vouchers to put towards our honeymoon. We won't have a massive budget ourselves and by delaying the trip we will know what we can add on in the way of gifts. We've already told several people who've asked that that's what we'd like - we've no idea who's already actually bought them and don't feel we can really go and ask.
Today I received an e-mail from friends who have said they're happy to contribute but will give us a personal cheque due to Thomas Cook profit warnings and possible concerns over their future. I hadn't heard this (too busy at work and wedding planning!!) and am now a bit worried about what will happen if they do go under. Would we, or guests buying them, be able to get monetary refund on any vouchers we hold?

luci

Some information on the TC situation HERE

stephb34

No you wont be able to get a refund on any vouchers your friends have bought,but don't worry about Thomas Cook going under its not going to happen, Thomas Cook are still making hefty profits just not as much as the stock market expected thats why they had to announce it to the city.

thegirlintheattic

Most travel companies have had their share price fall, it's a sector issue. Thomas Cook is one of the big guys and so is unlikely to go under any time soon.

If you want to be completely safe ask for cheques towards a holiday, then you are not tied to one company anyway.

Alan_Bowen

There is no financial protection for vouchers but although Thomas Cooks is clearly under performing expectations, it is not about to disappear after 175 years. There may be changes, there are suggestions that they may reduce the number of long haul flights they operate next year but they will still be around.