If the company fails, the bankruptcy could be a fact already on Monday, which could affect 165,000 British travelers who are abroad.

For preventive purposes, the British Aviation Authority Civil Aviation Authority (CAA) has started a project they call the "Matterhorn", which in the event of bankruptcy should help stranded travelers return to the UK. Which could be the largest British operation of its kind during peacetime, according to Sky News.

"An absolute carnage"

If Thomas Cook is forced to go bankrupt, this could have major consequences for the travel industry, as the company, among other things, collaborates with around 3,000 hotel owners worldwide.

- It would be an absolute carnage, says a person with transparency in the restructuring talks to the Financial Times.

Brexit may have affected

Thomas Cook reported a loss of £ 1.5 billion this summer, according to The Independent. Something the company explained with the British waiting their holidays due to hot weather and Brexit concerns.