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Hundreds of Thomas Cook jobs still under threat despite rescue deal

12 October 2019

Up to 2,500 jobs at Thomas Cook could be saved after Hays Travel, the UK's largest independent travel agent agreed Thursday to buy the historic holiday company's high street shops.

The company, which describes itself as Britain's largest independent travel agent, was founded four decades ago and had sales of more than 1 billion pounds ($1.2 billion) past year, directly employing 1 900 people.

"This plan could provide hundreds of available jobs for Thomas Cook employees who were displaced by the closure of the branches".

Mr. Hays, who owns the business with wife Irene, said: "It is a game-changer for us, nearly 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".

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Jim Tucker, partner at KPMG and joint special manager of Thomas Cook's retail division, added: "This is an extremely positive outcome, and we are delighted to have secured this agreement".

Antalya and Dalaman in Turkey were Thomas Cook Airlines' most popular destinations for British travelers, according to data from airline database Cirium.

This may affect the Halifax and Brighouse shops, as they already have shops in the towns.

"These people didn't do anything wrong, one day the company went into liquidation and their jobs had gone", said John Hays, the managing director of Hays Travel.

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Official receiver David Chapman said the acquisition of the 555 branches - the entirety of Thomas Cook's United Kingdom retail estate - is an "important step in the liquidation process".

THOMAS Cook employees in Northern Ireland could be offered a lifeline after the collapsed firm was bought over by a rival travel agent.

After the announcement on 23rd September that the company had entered compulsory liquidation, numerous companies and individuals have come forward to support former employees of the travel agent, hotels and airline operator.

Meanwhile, MPs will grill Thomas Cook's former bosses next week over its collapse last month.

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"GlobalData's head of R&A, travel & tourism Nick Wyatt also welcomed the news, but argued that" the deal is not without peril". It will have to conduct a review of store locations and operations and there may be a need for a rationalization at some point, particularly in areas in which Hays already has a strong presence.

Hundreds of Thomas Cook jobs still under threat despite rescue deal