Considered the second of its kind in the world and the oldest (178 years of foundation), the Cook Group operated as a tour operator, also had an airline (105 aircraft) and 200 hotels and resorts under its brand, invoiced 11,320 million euros per year and employed 22,000 people, 9,000 of them in Great Britain.

The bankruptcy has occurred after intense efforts to obtain a financial guarantee of 227 million euros to continue operating.

Despite different requests, including that of the TSSA union, the British Government led by Boris Johnson, refused to approve a "financial bailout" of 170 million on the grounds that it would have meant a "moral hazard precedent."

However, the Government has publicly committed to organize and finance the return of affected customers, which is estimated to cost at least 680 million euros to the British coffers, and will be the largest repatriation operation to Great Britain since Dunkirke, during World War II.