It’s a rescue for Thomas Cook’s system of traditional shops, however will perhaps not save yourself the brand name that is 178-year-old.
But have John and Irene Hays, the wife and husband group whoever business is purchasing the 555 stores, bitten down a lot more than they could chew?
Today, Hays Travel has 190 shops, with yearly sales of Ј1bn and pre-tax earnings of Ј10m.
But its purchase regarding the Thomas Cook community for the sum that is undisclosed a huge expansion for the business that is additionally significantly less well known than its unsuccessful bigger rival.
And it comes at time if the means customers purchase breaks happens to be changing – with several deciding to book on the web as opposed to obtaining the hassle of a vacation to your stores.
The back ground to Thomas Cook’s collapse recommends it’s a intimidating task.
The seeds for the demise were sown more than about ten years ago whenever Thomas Cook itself embarked on an expansion that is major swallowing up package holiday firm MyTravel and soon after buying the Co-op’s community of high-street travel companies. Weiterlesen