Thomas Cook collapse – are suppliers’ bank loan covenants likely to come under pressure?

Frank Ofonagoro, Quantuma LLP Restructuring Practitioner
 Show Interest

Thomas Cook collapse – are suppliers’…

 Show Interest
Following the sad demise of Thomas Cook many companies that formed part of its supply chain will undoubtedly be concerned about a range of factors ranging from; whether they will be paid their outstanding invoices to how to replace what, to some will be a significant component of their annual revenue.

The loss of a key customer such as Thomas Cook is likely to provide real challenges to its suppliers (certainly in the short to medium term) where their existing banking covenants have been calculated on a pre-Thomas Cook collapse set of trading projections. This means that a supplier’s ability to stay within its banking covenants is likely to become problematic.

I have a wealth of experience supporting many clients in situations where they face having a difficult conversation with their bank around covenant compliance, with a view to ultimately achieving a covenant reset based on a revised set of financial projections.

If you are facing such a situation following the collapse of Thomas Cook and wish to evaluate your options or explore how Quantuma LLP can potentially support your business please feel free to contact me (details below):

Frank Ofonagoro

Director – Advisory & Restructuring

Quantuma LLP

Mobile: +44 (0)7469859111

  • Restructuring
  • Financial Planning
  • Business advisory
  • Thomas Cook suppliers
  • Bank loan covenants
Frank Ofonagoro Quantuma LLP Restructuring Practitioner

I am Quantuma's Restructuring Director for the North West of England, delivering lead advisory and business restructuring mandates for SMEs. I have over 20 years experience delivering projects in the…

Business Management

SMEs: Why business reviews can be key to staying in...

In my area of expertise (business advisory / restructuring), the notion of a business review typically comes on to my…
Business Management

Reliable financial management information - don't be...

In my line of work whenever I'm introduced to support the directors or management of a SME striving to turn around…
Business Management

How well do you know your key stakeholders? Times of...

How many directors really understand how each of their key stakeholders will react when their economic interest is at…

More Articles

Training and Development


We are living in extraordinary times, we are going through enormous changes and there will be more to come.  We are…

Rights of fathers following separation and Divorce

More than one in three children never see their father again after their parents split up, research into family…

Worldwide Expat Family law and Divorce- Can I still...

  WORLDWIDE EXPAT DIVORCE AND FAMILY LAW   Breaking up may be hard to do, but for married expats it can be fraught…

Would you like to promote an article ?

Post articles and opinions on Manchester Professionals to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.

Find the right professionals in Manchester

View The Full Index

Search By:

Submit your Enquiry here

Enquiry Details

Contact Details