Thomas Cook collapse: Algarve impact “minimal”, says tourism boss

Thomas Cook collapse leaves €4.8 million owing to Portuguese companies

The collapse of Thomas Cook travel group last month has left Portuguese companies that operate in the Algarve with debts of €4.8 million.

This is the latest news, in a small box story in tabloid Correio da Manhã this (Wednesday) morning.

In all roughly 30 companies have been left with unpaid bills, “among them hotels and maritime-touristic businesses”. The silver-lining to the debacle is that the government has launched a €150 million credit-line for affected companies, guaranteeing each business can claim up to €1.5 million (click here).

Beyond Portugal, the BBC reported this week that the failed company’s refund website has seen thousands of claims made, reaching as many as 60,000 “in just one day”.

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