Founded in Market Harborough in 1841 by businessman Thomas Cook, the fledgling company organised railway outings for members of the local temperance movement. Some 178 years later, it is a huge global travel group, with annual sales of £9bn, 19 million customers a year and 22,000 staff operating in 16 countries. However, just as the travel world has progressed from temperance day trips, so the modern business and leisure market is also changing, and at a far faster pace than in previous decades. The firm is being buffeted by a number of factors: financial, social and even meteorological. As well as weather issues, and stiff competition from online travel agents and low-cost airlines, there are other disruptive factors, including political unrest around the world. The tour operator's financial difficulties have mounted over the past year, culminating in a refinancing plan in August led by its biggest shareholder, Chinese company Fosun. But banks now want the company to raise extra funds and it could fall into administration within days unless it finds £200m.
