Russian Tour Operator Biblio Globus Refuses To Sell Its Business To Bankrupt Thomas Cook

Umer Jamshaid Published October 02, 2019 | 11:46 PM

One of the biggest Russian tour operators, Biblio Globus, said on Wednesday it had refused to sell its business to bankrupt UK travel company Thomas Cook Group

MOSCOW (UrduPoint News / Sputnik - 02nd October, 2019) One of the biggest Russian tour operators, Biblio Globus, said on Wednesday it had refused to sell its business to bankrupt UK travel company Thomas Cook Group.

In September, the oldest UK-based tour operator, Thomas Cook, collapsed into bankruptcy and left over 600,000 clients stranded, prompting the biggest peacetime repatriation of British travelers ever.

"On October 1, 2019, the Russian tour operators, Biblio Globus, informed the Thomas Cook Group plc about the cancellation of the sale and purchase contract," the Russian company said.

Biblio Globus stressed that the contract had been annulled due to Thomas Cook's inability to fulfill its commitments.

Thomas Cook Groups purchased a 30 percent stake of Biblio Globus in March, and the remaining share was supposed to be purchased in January 2020.