Hays Travel acquires 555 former Thomas Cook stores nationwide
An agreement has been reached with Hays Travel Limited to acquire Thomas Cook’s entire UK retail estate.
The Sunderland-headquartered holiday specialist will acquire a total of 555 Thomas Cook stores across the country, providing re-employment opportunities for a ‘significant’ number of former Thomas Cook employees.
The news follows Thomas Cook’s collapse last month, which saw 9000 job losses in the UK and thousands of holidaymakers left stranded overseas.
Jim Tucker, partner at KPMG and joint special manager of Thomas Cook’s retail division, said: “This is an extremely positive outcome, and we are delighted to have secured this agreement.
“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.
“We are pleased to have achieved this in a short time frame and in the context of a complex liquidation process, which is testament to a lot of hard work from a number of parties.”
Commenting on the news, John and Irene Hays, managing director and group chair of Hays Travel Limited, added: “Thomas Cook was a much-loved brand employing talented people. We look forward to working with many of them.”
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