Hays Travel acquires 555 Thomas Cook stores
Hays Travel, the independent travel agent, is set to purchase all 555 Thomas Cook shops.
The Just Go Travel operator has saved 2,500 jobs, buying up the high street stores, and has said they will re-employ many former staff in the process.
John and Irene Hays, the managing director and group chair of Hays Travel respectively, announced that “Thomas Cook was a much-loved brand employing talented people”.
The continued “We look forward to working with many of them.”
They have announced intentions to re-employ a “significant number” of those who formerly worked for Thomas Cook.
David Chapman, the official receiver of Thomas Cook, stated "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."
Hays Travel have already re-hired 421 former employees of Thomas Cook.
These employees were among the 9,000 who lost their jobs in the company’s collapse, leaving 150,000 holidaymakers stuck abroad.
The recovery exercise marked the biggest peacetime repatriation exercise in the UK.
Jim Tucker, a partner at KPMG, and joint special manager of Thomas Cook’s retail provision, announced “This is an extremely positive outcome, and we are delighted to have secured this agreement”.
He continued “It provides re-employment opportunities for a significant number of former Thomas Cook employees and secures the future of retail sites up and down the UK high street.”