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Sun, sea and uncertainty at Thomas Cook

28/11/11 15:35 CET

The troubled holiday giant Thomas Cook is reported to be ready to cut 1,000 jobs and shake up its boardroom after securing yet another emergency cash injection. Banks agreed a 225 million euro loan at the weekend after the firm made its second rescue appeal in five weeks.

Thomas Cook shares have shed more 90 per cent of their value since the beginning of the year. Full restructuring details are expected in the next fortnight.

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