As the scrutiny around the collapse of Thomas Cook heats up, the business secretary is calling upon the Insolvency Service to launch an investigation into the actions of the travel firm's directors.  

If found guilty of misconduct or breaches of the Insolvency Act,  the Insolvency Service has the power to disqualify people from acting as company directors for a period of up to 15 years.  

It comes down to this: directors of a company verging on insolvency have a duty to creditors to minimise losses, and continuing to trade when it is apparent there is no reasonable prospect of avoiding insolvency can constitute misconduct. 

Any investigation into the actions of the directors of Thomas Cook will likely focus on whether they put their own interests ahead of those of creditors by continuing to pay themselves large salaries in the face of mounting debt.

As the consumer market tightens, unfortunately there are likely to be more high-profile casualties.  The same questions will undoubtedly be asked of those directors, so watch this space.