Thomas Cook’s Polish arm Neckermann ‘insolvent’ after group collapse

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Thomas Cook’s Polish division, Neckermann Polska, has been declared insolvent, intensifying the crisis over the group’s collapse.

The news was announced by officials in Poland, little more than 48 hours after the wider Thomas Cook group was placed into compulsory liquidation.

The failure sparked the biggest peacetime repatriation of UK citizens, with more than 150,000 stranded abroad, and bitter questions over its demise.

The news followed assurances from Neckermann on Monday that it was continuing to trade as normal as it was a separate entity.

It is currently unclear how many of Neckermann Polska’s holidaymakers face difficulties getting back to Poland.


Via Sky News

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