9th Oct 2019 10:26
(Alliance News) - Hays Travel Ltd will acquire 555 stores formerly operated by collapsed travel firm Thomas Cook Group PLC, the UK Department for Business said on Wednesday.
The Insolvency Service, an arm of the government department, said the travel agent has already recruited 421 former Thomas Cook employees "with further offers outstanding" for more.
John and Irene Hays, managing director and chair of Hays Travel, respectively, said: "Thomas Cook was a much-loved brand employing talented people. We look forward to working with many of them."
Hays is the UK's largest independent travel agent, offering tours to its customers from the likes of TUI AG and Jet2Holidays Ltd.
Official Receiver David Chapman said: "I am pleased to announce we have reached an agreement with Hays Travel to acquire Thomas Cook’s entire UK retail estate, comprising 555 stores across the country. This represents an important step in the liquidation process, as we seek to realise the company’s assets."
Debt-ridden Thomas Cook folded in September after failing to secure an extra GBP200 million needed to keep it afloat.
UK Business Secretary Andrea Leadson called on the Insolvency Service to "fast-track" the investigation of the company's collapse.
By Eric Cunha; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
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