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Monday, 14 May 2012

Thomas Cook in administration threat

Thomas Cook warned its shareholders in a circular that if they did not agree to the company's proposed disposals the company risked going into administration.  It seems to have worked as the shareholders have all agreed to the disposal

The disposals were part of the deal agreed with its lenders that are supporting the company to the tune of £1.4bn.

The firm did worry investors when it had to ask its lenders last year to extend £100m more credit.

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