Wolves owner plans Thomas Cook return

Fosun, the Chinese owner of Wolves, which bought the brand and intellectual property assets of Thomas Cook for £11m last year is said to be plotting an “imminent” return of the collapsed holiday firm.

Fosun was in a group of lenders which tried to rescue Thomas Cook with a £900m funding package, but fell £200m short leaving passengers stranded across the world.

Sky News reports that Fosun is plotting to reinvent the company as an online travel agent as soon as this month.

It is thought an announcement about the relaunch could be made in the coming days, depending on Fosun securing the necessary regulatory approvals as well as the introduction of any further quarantining restrictions on British citizens.

Fosun had been a big shareholder in Thomas Cook for several years prior to the company’s demise.

The majority of Thomas Cook’s high street estate was sold to family-owned Hays Travel, which last month announced it would cut up to 880 jobs in an effort to cut costs as a result of the coronavirus pandemic.

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