Thomas Cook France placed in receivership, 780 jobs at risk

Passengers of British travel group Thomas Cook queue at Son Sant Joan airport in Palma de Mallorca

The move comes after a parliamentary inquiry was launched into the collapse of the company by the Commons business, energy and industrial strategy select committee.

The FRC gave no details on the scope of the investigation, but the launch follows reports in the press that Thomas Cook used an excessive amount of "exceptional items" to massage its profit numbers, helping executives reap bigger bonuses and disguising the true health of the business.

If any wrongdoing is unearthed by the FRC, it could lead to censure and a hefty fine for those responsible.

A Belgian commercial court in Ghent on Tuesday declared the local travel agency business of British tour operator Thomas Cook bankrupt, putting 500 jobs at risk.

The government has already pledged measures to support affected businesses.

Cristiano Ronaldo: Juventus superstar breaks series of UEFA Champions
Welsh worldwide Aaron Ramsey was introduced in place of Bernardeschi with Dybala replacing Higuain for the closing stages. Cristiano Ronaldo has reached yet another Champions League record by scoring against Bayer Leverkusen on Tuesday.

"The goal is to ensure continued operations for the French subsidiary and rapidly find a takeover solution", Thomas Cook France said.

It was also reported that Mrs Leadsom failed to meet with any senior directors from Thomas Cook prior to its collapse when the company was seeking reassurances from ministers.

On Monday, it was also revealed that some customers may have to wait up to two months to receive a refund on cancelled holidays.

The Financial Reporting Council said its enforcement division was investigating EY's audit of the financial statements of Thomas Cook for the year to 30 September 2018.

No candidates have so far come forward publicly, and the number one French player, TUI France, declined to comment last week.

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