Any company offering packages by air must have an ATOL (Air Travel Organiser's Licence). This is a government scheme administered by the CAA. I know for my previous career that to obtain one the company must provide evidence of the financial position. I seems that whoever approved the renewal of their ATOL is a bit like an insurance agent agreeing fire insurance for a house that is already smoking!
A bit of history, from memory I think Cooks was taken over thirty or so years ago by a German Bank (Deutsche Bank?) but obviously they subsequently sold on to venture capitalists.
And even older history, in 1841 there first travel venture was to allow the citizens of Leicester attend a sermon delivered by a noted temperance preacher. But some contemporary reports indicate that quite a few of the group did not take much notice of the sermon as they had more than the cream tea included with the ticket!
Quentin
