Insolvency Service to probe into the collpase of Thomas Cook including fat-cat salaries by management

Andrea Leadsom, business secretary, wrote a letter to Dean Beale CEO of Insolvency Service has asked to launch a probe into the collapse include the role of management who were criticised for taking big salaries while overseeing the group’s decline.
CEOs at Thomas Cook took home £18.7m of pay over the past 10 years, according annual reports, with current CEO earning about £8.5m in his near five-year tenure.
Thomas Cook collapse is a blow to Chinese Group Fosum, who had proposed to contribute £450m to a rescue .As ministers declined to save the company Thomas Cook negotiated for extra cash from a group of Spanish hoteliers but a deal could not be reached.