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.
Thomas Cook Retail Belgium is the group’s largest Belgian subsidiary and the fourth and final one to collapse in the wake of the parent company’s failure.
The 178-year-old core group was plagued by debt and declared bankruptcy last week after a lengthy period of financial turmoil, leaving 22,000 staff jobless.
