Protect against travel firm collapse

Lewis Stickley/PA

Millions of holidaymakers are on tenterhooks as shares in Thomas Cook recovered slightly today after nosediving amid fears the debt-laden tour operator was on the brink of collapse.

Despite reassuring words from the company's interim chief executive, travelers are still concerned whether their trips will take place. More than 15 travel companies have collapsed this year, so what is the outcome for consumers when a firm goes bust?