Reprieve for Thomas Cook's UK stores as Hays Travel deal saves up to 2,500 jobs

Record ID: 1435928

  • Title: Reprieve for Thomas Cook's UK stores as Hays Travel deal saves up to 2,500 jobs
  • Date: 9th October 2019
  • Summary: MALLORCA, SPAIN (RECENT - SEPTEMBER 23, 2019) (REUTERS) PASSENGERS STANDING IN LINE AT CHECK-IN, BRITISH OFFICIALS IN HIGH-VISIBILITY VESTS PEOPLE STANDING IN LINE / WOMAN IN HIGH-VISIBILITY VEST READING (English): "British government official." PASSENGERS WAITING AT AIRPORT, SOME LYING ON FLOOR WOMAN RESTING HEAD ON SUITCASE PASSENGERS WAITING VARIOUS OF WAITING PASSENGERS SITTING ON FLOOR VARIOUS OF ARRIVALS AND DEPARTURES BOARD SHOWING DELAYS
  • Embargoed: 23rd October 2019 15:31
  • Keywords: Thomas Cook Hays Travel travel company Hays Travel deal saves Thomas Cook stores
  • Location: MANCHESTER AND SUNDERLAND, ENGLAND, UNITED KINGDOM / MALLORCA, SPAIN
  • City: MANCHESTER AND SUNDERLAND, ENGLAND, UNITED KINGDOM / MALLORCA, SPAIN
  • Country: United Kingdom
  • Topics: Economic Events
  • Reuters ID: LVA003B0DMW0D
  • Aspect Ratio: 16:9
  • Story Text: Hays Travel will buy all of Thomas Cook's British travel agent shops, potentially saving up to 2,500 jobs and providing a rare boost for high streets across the country, it was announced on Wednesday (October 9).
    Thomas Cook, the world's oldest travel company whose shops have been a feature of British town centres for generations, collapsed last month, stranding tens of thousands of passengers as its UK business went into liquidation.
    Hays Travel will buy all 555 stores as part of a deal brokered by insolvency advisers KPMG, and the privately-owned travel firm will look to re-employ former employees from Thomas Cook's retail operations.
    Speaking at a news conference, Chair Irene Hays said that 597 members of Thomas Cook staff had already accepted jobs with Hays Travel and that more offers had been made.
    Thomas Cook collapsed after it became unable to service its debts and failed to convince banks to back a rescue plan in the face of changing customer habits and intense competition from low-cost airlines and internet companies.
    Hays Travel, a family company which is jointly owned and managed by Managing Director John Hays and Chair Irene Hays, said it had no plans to close any shops, but would evaluate the performance of each store going forward.
    (Production: Phil Noble, Louisa Naks)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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