UK launches probe of Thomas Cook auditors as foreign branches collapse

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UK launches probe of Thomas Cook auditors as foreign branches collapse
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Britain to fly back another 7,100 people on Wednesday after Thomas Cook collapse triggers probe into auditors EY's scrutiny of books

Former Thomas Cook cabin crew members protest outside the venue for the Conservative Party annual conference in Manchester, Britain. September 30, 2019.

Britain launched an investigation on Tuesday into the auditors who signed off on accounts for the now-bankrupt holiday giant Thomas Cook, as the company's French branch went into receivership and its Belgian division collapsed. The regulator "will keep under close review both the scope of this investigation and the question of whether to open any other investigation in relation to Thomas Cook, liaising with other relevant regulators to the fullest extent permissible".

Thomas Cook France, which employs 780 people, had already declared insolvency last week in the wake of its parent company's bankruptcy. No candidates have so far come forward publicly, and the number one French player, TUI France, declined to comment last week.

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