Period of debt-fuelled expansion ‘may have caused Thomas Cook collapse’

By Anne workforce / October 19, 2019

Institute of Directors advises MPs investigating firm’s downfall to look at tenure of former CEO Manny Fontenla-Novoa

The debt-fuelled expansion of Thomas Cook between 2007 and 2011 may have caused its downfall, the Institute of Directors has said, as the tour operator’s former bosses prepare to give evidence to MPs investigating its implosion.

The business, energy and industrial select committee will question former chief executives Manny Fontenla-Novoa and Harriet Green on Wednesday, building on evidence given last week by directors who were in charge when the travel agent collapsed.

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