Thomas Cook collapse to leave bondholders almost empty-handed
![Thomas Cook](https://assets.euromoneydigital.com/dims4/default/4a0c03b/2147483647/strip/true/crop/230x173+0+0/resize/840x632!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F83%2F7a%2F69f7ec445643a4a61030b16c0992%2Fpa-21575508.jpg)
UK tour operator Thomas Cook’s default could come close to annihilating the bondholders’ positions, leaving them only with a few cents on the euro, the liquidation analysis shows. The 178-year-old company tried feverishly to secure a £1.1bn rescue package over the weekend but collapsed on Monday.
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