Thomas Cook travel firm collapses leaving hundreds of thousands travellers stranded, CEO tenders apology

Thomas Cook, the world's oldest travel firm, collapsed on Monday, stranding hundreds of thousands of travellers around the globe and launching the biggest peacetime repatriation effort in British history.

Thomas Cook has entered into compulsory liquidation. Speaking on the crisis, Thomas Cook CEO said, "I apologise".

One of its customers has said that a hotel in Tunisia stopped them leaving. However, a UK minister has said that no one will be left stranded. 

Thomas Cook collapses: What next and why?

Thomas Cook battles for survival ahead of the final creditor meeting and is in talks with the UK government, investors for a rescue deal.

The travel company was scrambling for $250 million to avert collapse, however, its restructuring plan was overshadowed by CDS dispute. 

(More details awaited...)