Thomas Cook has collapsed and entered compulsory liquidation – with an estimated 150,000 British holidaymakers still trapped abroad.

Crucial talks aimed at preventing the holiday firm going out of business were held throughout Sunday – but ultimately failed.

The firm then confirmed at 2am they have ceased trading. They will officially enter administration when the stock market opens at 8am.

People who are travelling on holidays that leave today must not go to the airport. The last Thomas Cook plane is set to land at Manchester airport just after 5am.

Customers currently overseas should check thomascook.caa.co.uk for advice and only go to the airport once they have an alternative flight confirmed.

The British government has vowed to fly all the 150,000 home.

But the harsh reality is 22,000 staff worldwide could now lose their jobs, including 9,000 in the UK alone.

Source: Mirror