Up to 2,500 jobs saved as Thomas Cook’s 555 shops snapped up by holiday firm

All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.

The Official Receiver and special managers from KPMG have announced that an agreement has been reached with Hays Travel to acquire Thomas Cook’s entire UK retail estate.

Around 3,000 jobs were lost in the North West when the firm collaped.

Thomas Cook ran its airline out of Manchester Airport and had more than 20 shops in the Greater Manchester area.

It was also announced that Manchester baggage handling firm Aviator will go into administration on October 22 with the loss of 351 jobs as a result of the Thomas Cook collapse.

The agreement will see Hays Travel acquire a total of 555 stores around the UK, providing re-employment opportunities for a significant number of former employees of Thomas Cook’s retail operations who were made redundant following the company’s collapse last month.

Hays Travel is the country’s largest independent travel agent. The company also runs the Hays Travel Independence Group, a consortium of independent travel agents, in addition to operating a subsidiary business, Just Go Travel, which trades under the Hays Travel brand predominantly across the North West of England.

Following the appointment of the Official Receiver last month, Hays Travel have already recruited 421 former Thomas Cook personnel and have further offers outstanding to former employees.

David Chapman, 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.”

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.

“Over the weeks ahead, we will work closely with Hays Travel and landlords to ensure a smooth transition of the store estate.

John and Irene Hays, managing director and group chair of Hays Travel, said: “Thomas Cook was a much-loved brand employing talented people. We look forward to working with many of them.”

Mayor of Greater Manchester, Andy Burnham, said: “The news that a large number of Thomas Cook jobs are in line to be saved by a takeover is obviously very welcome, though it is not yet clear how many of these roles will be based in the North West.

“The Greater Manchester family has worked incredibly hard in recent weeks to help all those affected by the collapse of the long-standing travel firm.

“Just last week a jobs fair at Manchester Airport attracted more than 1,000 attendees and around 50 employers – it was an excellent example of how Manchester Airports Group, the Growth Company, Transport for Greater Manchester, the Greater Manchester Combined Authority and others are committed to doing the right thing by those people who find themselves suddenly without work.”

Mark Hughes, chair of the GM Task Force which was set up by the Mayor of Greater Manchester in the wake of Thomas Cook’s collapse, welcomed the announcement: ​“This is excellent news which will provide a much-needed lifeline to those Thomas Cook employees who worked across the company’s retail units in Greater Manchester and the North West.

“However, as a major centre of airline operations there is still much for us to do to ensure that ex-Thomas Cook employees from across all areas of the business continue to get the support they need, as well as those employees within the supply chain who are starting to feel the impact – not least those employed by grounds-handling firm Aviator which recently confirmed that it anticipates ceasing all operations at Manchester Airport later this month.”