Cox & Kings faces cash crunch, cancels Europe tours; panic among employees

Cox & Kings on Tuesday cancelled European group tours at the last minute and put hundreds of employees on notice after a delay in raising funds, confirmed the troubled tour operator.

It has already defaulted on loan repayments and closed some of its overseas branches because of cash crunch. Employees have also not been paid for three months. On Monday, it asked hundreds of staff to leave, sparking protests at its Mumbai office.

Now, even customers are facing the music for its financial crisis.

Cox and Kings had marketed several group tours for October. These are popular in West Bengal