In September 2019, the travel group Thomas Cook collapsed and had to file for bankruptcy. At that time, the British insolvency supervisory authorities began investigations against the then company boss Peter Frankhauser and other managers. The process has now been discontinued.

The authority was unable to identify any breaches of UK law and therefore announced that the investigation was closed. However, no details were given.

“The liquidation of the Thomas Cook Group is a complex and significant insolvency, with the liquidator fulfilling his duties to ensure an orderly winding-up of the failed travel business in the interests of the creditors. Based on the liquidator's findings following an inquiry into the conduct of Thomas Cook's directors, the Authority does not currently intend to bring any foreclosure proceedings against the directors," the regulator told Sky News.