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Thomas Cook Germany withdraws bridging loan application - liquidator

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Thomas Cook Germany withdraws bridging loan application - liquidator
FILE PHOTO: A woman stands outside a closed Thomas Cook travel agents store near Manchester, Britain, October 9, 2019. REUTERS/Phil Noble   -   Copyright  Phil Noble(Reuters)
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BERLIN (Reuters) – Insolvent Thomas Cook’s German unit has withdrawn an application for a state bridging loan for legal reasons, the company’s liquidator said on Wednesday, adding that the firm was still talking with investors about a possible rescue.

Insolvency administrators of the law firm Hermann Wienberg said the credit application needed to be amended, adding that the already submitted application would be withdrawn.

It did not say whether Thomas Cook would file a new application.

Thomas Cook, the world’s oldest travel firm, collapsed last month, sparking the largest peacetime repatriation effort in British history and a scramble for survival among many of its subsidiaries.

Thomas Cook Germany had filed for insolvency in a move aimed at separating its brands and operations from its failed parent and the German government said it was considering an application for a bridging loan from the company.

(Reporting by Riham Alkousaa; Editing by Nick Macfie)

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