This article is about the collapsing of the world's oldest travel company. Owned by cook and began in 1814. It majored on holiday package traveling, which was based in Britain. During the start, this company made a lot of profits that saw the prosperity of the company for an extended period before its woes bega (FAULCONBRIDGE.g, holton. k 2019). This company used to sell holiday packages to its customers, and they would buy them without a lot of resistance as it was the only company that was trusted. Its troubles commenced when some of those who had purchased the package were closed in a hotel room until the company paid all its dues (The economist 2019). This marked the beginning of the downfall of the large well-known package company. This was not all when this company formed a merger with another company that had a lot of debts that it could not manage to wave off. This increased the chances of the travel company to collapse.
This article is written to offer a warning to those with similar thought of commencing a travel company, to read it, understand the does and don'ts in the industry for its success. This would be, for instance, if everyone avoided all the mistakes that were made by Thomas crook, they would have got success. This is a piece of motivation for investors to think critically when forming mergers and do proper research before accepting any offer (Keown. C. 2019). It is also a masterpiece on showing that it is good to move with the current trends in the market so that one is not left behind with old systems that are not functional.
This article is putting the mistakes that it made that led to its failure. It would be enhanced by showing the financial records that the company had when it was making profits and at what point did it begin falling and what are the financial documents (Tidey. A. 2019). With that, it would be an excellent guide to one intending to come up with such a similar idea.
The article was aimed at showing that no matter how flourishing a company is, and despite its monopoly in any industry, it can collapse and overtaken by new companies if care is not taken very well. The information offered in the article was credible as it showed the steps that were taken and what led to the collapsing of the so-called holiday package company (The economist 2019). The writer discussed all the steps that were undergone from the starting till when it started recording losses and its collapsing.
The article was written with the aim of getting the attention of those with a similar mind of starting such accompany so that they could not follow the mistakes that were made by Thomas while h was in the business. The writer and are I are all in consensus as to what led to the collapsing of the formerly big company and the only one to collapse and exit functioning. The discussion offered is a summary of what led to the collapsing of the oldest holiday package company. It has highlighted all the mistakes that it did that led to it collapsing.
The economist 2019, Thomas cook the world's oldest company.business Retrieved from www.economist.com/business/2019/09/23/thomas-cook-the-worlds-oldest-travel-company-collapses#targetText=Journey's%20endThomas%20Cook%2C%20the%20world's%20oldest%20travel%20company%2C%20collapses
Faulconbridge .g, Holton. K 2019. Why the world's oldest travel firm Thomas cook collapsed. Retrieved from. https://www.iol.co.za/news/world/why-worlds-oldest-travel-firm-thomas-cook-collapsed-33478645
Keown. C. 2019. One of the world's oldest travel agent on the verge of collapsing. Retrieved from https://www.marketwatch.com/story/one-of-the-worlds-oldest-travel-agents-thomas-cook-is-on-the-verge-of-collapse-2019-09-20
Tidey. A. 2019. Why did the world's most former travel firm go bust? Retrieved from https://www.euronews.com/2019/09/23/thomas-cook-why-did-the-world-s-oldest-travel-firm-go-bust
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