UK-based travel company - since 1841 - Thomas Cook announced today that it has ceased trading.

Notice now at ThomasCook.com states:

"Thomas Cook UK Plc and associated UK entities have entered Compulsory Liquidation and are now under the control of the Official Receiver. The UK business has ceased trading with immediate effect and all future flights and holidays are cancelled. A dedicated support service is being provided by The Civil Aviation Authority to assist customers currently overseas and those in the UK with future bookings. Please visit: thomascook.caa.co.uk for further information."

About 16,000 British customers are currently stranded overseas. The Civil Aviation Authority hopes to repatriate most of them by the end of the day today.

Bailout talks with the UK government failed over the weekend.