Britain's Thomas Cook enters compulsory liquidation

Britain's Thomas Cook said on Monday it had entered compulsory liquidation. The company said it made an application to enter liquidation and that an order had been granted to appoint an official receiver to liquidate the company.

"It is a matter of profound regret to me and the rest of the board that we were not successful," CEO Peter Fankhauser said. "This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world," he said.

AlixPartners UK LLP or KPMG will be appointed as special managers for the different parts of the business.

Also Read: Britain foiled 22 attacks since March 2017, top counter-terrorism officer says