Thomas Cook, the world's oldest travel firm, has announced it is filing for bankruptcy. China's Fosun Group led a last-ditch bid to rescue the company from bankruptcy but failed. Fosun said it was "disappointed" that the British travel firm had not been able to find a viable solution for its proposed recapitalization. Hundreds of thousands of travelers have been stranded around the globe. Thomas Cook said it would work with the British government to bring more than 150,000 customers back home over the next two weeks. The move is set to be Britain's largest-ever peacetime repatriation effort.