Thomas Cook collapse burns On The Beach


Travel retailer On the Beach says profit dropped by 26% in the year to 30 September “reflecting the impact of the failure of Thomas Cook Group”.

“The adjustment of £7.1m to revenue represents the lost revenue associated with providing refunds and the costs associated with organising alternative travel arrangements for customers.

“This totalled £25.6m and is stated net of a chargeback claim of £18.5m,” it said.