Cook jobs saved
HOPES RAISED THAT 2,500 JOBS WILL BE SAVED BY TAKEOVER
SUNDERLAND firm Hays Travel has set out hopes of saving 2,500 jobs after buying the entire retail estate of failed travel agency Thomas Cook.
The announcement by the Government Insolvency Service saw 555 stores across the UK acquired by Hays, meaning “re-employment opportunities for a significant number of former employees” of the collapsed travel giant.
Hays, which was already the country’s largest independent travel agent, has already recruited 421 former Thomas Cook staff, and has “further offers outstanding to former employees”.
The deal followed the collapse of Thomas Cook last month, which left 150,000 people stranded abroad, and thousands facing job losses. The Official Receiver and special managers from KPMG announced that agreement had been reached with Hays Travel Limited to acquire Thomas Cook’s entire UK retail estate.
David Chapman, the Official Receiver, 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.”
Hays Travel said it was planning to add around 100 jobs to its Sunderland headquarters after the purchase and hoped to employ thousands more in reopened shops.
Company chair Irene Hays said: “Thomas Cook was a much-loved brand and a pillar of the UK and the global travel industry. We will build on the good things Thomas Cook had – not least its people – and that will put us in even better stead for the future.
“We all share a passion for the travel industry and we want to continue to build the company’s reputation for firstclass service and being a great place to work and develop a career.”
Chief executive John Hays said: “Our staff were devastated to hear about Thomas Cook and we all immediately felt we wanted to help.
“In the last two weeks we have already employed or offered jobs to around 600 former Thomas Cook colleagues, and it has been a very emotional experience for them. Now that we are able to reopen the shops, we are looking forward to welcoming many more people who share our passion for the travel industry, into our family business.
“I’m very proud of the fantastic team who have helped me build Hays Travel over almost 40 years and they have worked tirelessly over the last couple of weeks to bring this about. It is a game-changer for us, almost trebling the number of shops we have and doubling our workforce – and for the industry, which will get to keep some of its most talented people.”
Hays, which works with tour operators such as Jet2 and TUI, already owns 190 travel agent shops. The deal will boost the high-street presence of Hays.
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 reemployment 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.
“Over the weeks ahead, we will work closely with Hays Travel and landlords to ensure a smooth transition of the store estate.”
The company also runs the Hays Travel Independence Group, a consortium of independent travel agents, as well as subsidiary Just Go Travel, which trades under the Hays Travel brand in parts of England.