I have been invested in Thomas Cook (OTC:TCKGF,OTCPK:TCKGY) since December 2011. At that time, the stock traded at around 15 pence (about 25 cents) and the company was on the brink of bankruptcy.
It was a bloated travel enterprise that consisted of numerous brands (over 100), with the majority acquired under the rule of CEO Manny Fontenla-Novoa. The brands were not integrated, which led to negative synergies and a loss of focus. At the same time, brick and mortar travel agencies like Thomas Cook were losing ground to their more efficient and modern online competitors. Additionally, external pressure from the unrest around the world that started with Arab Spring in December 2010 - and de facto...
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