Thomas Cook Germany withdraws bridging loan application - liquidator
[BERLIN] Insolvent Thomas Cook's German unit has withdrawn an application for a state bridging loan for legal reasons, the company's liquidator said on Wednesday, adding that the firm was still talking with investors about a possible rescue.
Insolvency administrators of the law firm Hermann Wienberg said the credit application needed to be amended, adding that the already submitted application would be withdrawn.
It did not say whether Thomas Cook would file a new application.
Thomas Cook, the world's oldest travel firm, collapsed last month, sparking the largest peacetime repatriation effort in British history and a scramble for survival among many of its subsidiaries.
Thomas Cook Germany had filed for insolvency in a move aimed at separating its brands and operations from its failed parent and the German government said it was considering an application for a bridging loan from the company.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Indian winemaker Sula Vineyards' Q4 profit slips on mounting expenses
Olam tops Louis Dreyfus’ offer for Australia’s Namoi Cotton as takeover battle heats up
Puma returns to sales growth in Americas despite ‘volatile’ market
Nanjing Xinjiekou Department Store announces May 23 EGM; Cordlife seeking legal advice
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
‘Limits’ to MOH intervention for Cordlife customer refunds, compensation: Janil