Thomas Cook Group on the Brink (A) Harvard Case Solution & Analysis

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Harriett Green, Thomas Cook Group’s newly appointed CEO, faces a daunting set of business and fiscal challenges at the 171-yr UK vacation services company that is old. The company has lost nearly GBP600 million in the last three quarters; has seen its stock-price fall from 230 pence into a low of 8.8p in the prior two years; and had found its bonds trade down to as little as 40% of face-value. In about a couple weeks the company’s license to manage is to be reviewed by the United Kingdom’s Civil Aviation Authority, the business’s viability is being publicly questioned by adversaries, and seasonal working capital needs are about to peak.

Together with the company’s very survival at stake, Green should devise a turnaround plan which will return the company to fiscal well-being. Any program must address the business’s high-price arrangement, raise new capital that is substantial, fix the balance sheet, create a lucrative growth strategy, and build culture and a more efficient organization. But attaining each of those targets within the short time available will be an important challenge.

PUBLICATION DATE: August 14, 2014 PRODUCT #: 215008-PDF-ENG

This is just an excerpt. This case is about FINANCE & ACCOUNTING

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Thomas Cook Group on the Brink (A)