In the end, Thomas Cook was groaning under $2.1 billion of debt, according to the company, most of it accumulated in pricey, ill-timed investments made years ago.
To be honest (ugly American honest!) I've never heard of Thomas Cook, but it looks like kind of a Sandals or Club Med for middle class folks, that included the travel component. It looks like ~20,000 people will lose their jobs vs. 30,000 ex-Toys R Us workers - pretty comparable on a relative basis. Debt kills.