The fall-out from the collapse of Thomas Cook will be far reaching. Right now, however, there is still a feeling of disbelief and shock, even though its troubles were strongly signalled. The hard fact is that the UK government (with enough problems of its own) felt it could not step in, and there are just about no assets in the business to entice a financial rescuer.
Source: Eye For Travel
Farewell Thomas Cook. Gone but not forgotten