The company failed to secure a financial package at the last minute to save it from collapse, leading to another blow for the UK high street.
The loss of jobs in any company can be significant, however, the shock of a compulsory liquidation is profound.
Recent headlines and reports from ex-Thomas Cook staff suggest no formal redundancy consultation was in place at the time of the collapse. Whilst this is still being investigated, if it is found that no consultation took place, the ex-employees may be able to bring claims for protective awards against the company for failure to follow collective consultation. If successful, this will mean up to 90 days gross pay for each affected employee.
In the meantime, ex-employees can apply to the Insolvency Service for redundancy and other payments, including any wages owed. Claims are paid within 14 days on average.
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