The Thomas Cook Collapse and the Importance of Digital Transformation

“I know that this outcome will be devastating to many people and will cause a lot of anxiety, stress and disruption,” Peter Fankhauser, the former chief executive officer of the now defunct Thomas Cook told Sky News on Tuesday, but that was putting it rather lightly.

Last Monday, when the oldest travel firm in the world unexpectedly collapsed, it left more than 150,000 Brits — and over 600,000 foreign nationals — stranded across the globe. Hotels were turned into prisons, as holidaymakers were told that unless they paid up, they would never be allowed to leave, airport terminals became scenes of chaos, and companies in every continent were knocked out by a financial earthquake.

Yet it was not supposed to end this way.

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