TUI adds millions of seats following Thomas Cook collapse

12 Octobre, 2019, 13:57 | Auteur: Auguste Feret
  • Hays Travel reassures that its'flexible model will save Thomas Cook following its collapse in September. Image Chris Ratcliffe Bloomberg

It is a bold move on Hays' part, but Thomas Cook is a cherished brand with an established customer base and if Hays has negotiated well, the move may just pay off.

Special Managers from KPMG were also appointed by the court to assist the Official Receiver with the liquidation.

At the moment, Hays Travel has no branches in the Borders, its nearest ones being in Hexham and Morpeth in Northumberland.

The married couple, who own and run Hays Travel, the UK's biggest independent travel agent, pride themselves on their good treatment of workers.

EasyJet Chief Executive Johan Lundgren has said the airline is looking at Thomas Cook's assets, although it is not interested in buying Condor, Thomas Cook's German airline, which is still operating and has been offered a bridging loan by the German government.

However, a ray of light has been shone in the wake of the devastation, as Hays Travel has announced that it has purchased all 555 of the Thomas Cook stores, thereby saving thousands of jobs.

The news comes following the collapse of rival Thomas Cook.

"The web was Thomas Cook's enemy, whereas a Hays Travel member of staff would say the web was their friend", said John Hays, managing director of Hays Travel who have taken over all Thomas Cook shops in the UK.

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The independent travel agent has bought all of the 555 Thomas Cook stores and re-employed numerous workers in those stores.

An agreement has been reached with Hays Travel Limited to acquire Thomas Cook's entire United Kingdom retail estate following its collapse in September.

In total, around 600,000 customers were left stranded following the collapse of the 178 year-old company less than three weeks ago, including around 140,000 who had been due to return to Germany.

Jim Tucker, partner at administrator KPMG, also added that the Hays deal "provides re-employment opportunities for a significant number of former Thomas Cook employees, and secures the future of retail sites up and down the United Kingdom high street".

The sign on the window of the Thomas Cook shop in Harrogate last month saying it had closed.

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The company's demise sparked 22,000 job losses worldwide.

It declared bankruptcy on September 23 after failing to secure fresh funds.

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