Fosun Tourism Group ‘worked tirelessly’ in attempt to restructure Thomas Cook

The Chinese owner of Club Med insisted it had worked “tirelessly” to try and complete a financial restructuring of Thomas Cook.

Fosun Tourism Group was approached for a proposed recapitalisation of the British travel icon in July.

Fosun confirmed today that its financial commitment of £450 million “remained unchanged”.

The company said: “Indeed, the team has worked tirelessly over the last couple of months with a large number of other stakeholders and interested parties to find agreement on the company’s proposed plan.

In a statement, it added: “Fosun Tourism Group notes the announcement made today by Thomas Cook Group, a company listed on the London Stock Exchange in which the group is a minority investor with no board representation.

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“Fosun is disappointed that Thomas Cook Group has not been able to find a viable solution for its proposed recapitalisation with other affiliates, core lending banks, senior noteholders and additional involved parties.

“Fosun confirms that its position remained unchanged throughout the process, but unfortunately other factors have changed.

“We extend our deepest sympathy to all those affected by this outcome.”

The comments came as the Foreign and Commonwealth Office issued advice to holidaymakers in 15 countries abroad affected by the collapse ranging from long-haul destinations such as Cuba, Dominican Republic, Mexico and the US to Cyprus, Egypt, Portugal, Spain and Turkey.

The FCO said: “If you’re travelling and have been affected by the announcement that Thomas Cook has ceased trading, you should visit for the latest updates.

“Those overseas can call the CAA helpline on +44(0)1753 330 330 and for those in the UK the freephone number is 0300 303 2800.”

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