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Old 1 Nov 19, 08:26 PM  
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Mobile Thomas Cook back from dead.

Slightly too late for Halloween, but a Chinese company has just paid £11m for the Thomas Cook brand, so a travel company called TC is presumably going to rise from the grave. Is the brand still worth that much? Would you ever book with it again?
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Old 1 Nov 19, 08:28 PM  
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galaxyflorida
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That Chinese company were the ones rumoured to save TC before the banks asked for extra money just before they went bankrupt.

What I’m even more surprised about is that Hays bought all the shops for £6m. That’s just over £10,000 per shop, which isn’t much at all.
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Old 2 Nov 19, 04:37 PM  
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Yep it's Fosun who were the ones trying to save Thomas Cook,they have big plans with Chinese holidays , it's not the airline though only the travel company so big rivals for a Hays!
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Old 2 Nov 19, 08:26 PM  
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Kev Harrison
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Originally Posted by galaxyflorida View Post
That Chinese company were the ones rumoured to save TC before the banks asked for extra money just before they went bankrupt.

What I’m even more surprised about is that Hays bought all the shops for £6m. That’s just over £10,000 per shop, which isn’t much at all.
A great bit of business. Won't be hard to claw that outlay back.
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Old 4 Nov 19, 11:19 PM  
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Goofy1967
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This is fairly standard stuff in big-ticket insolvencies. The liquidator has to sell the assets and divvy up the proceeds between the creditors. But their time is expensive ... so it's uneconomic to spend too long canvassing for better offers for what is, inevitably, a tainted brand name. So any interested party who makes an offer which is serious enough to deter rival purchasers from entering into a bidding war is likely to be able to buy it up. But they still have their work cut out re-launching the brand.
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Old 5 Nov 19, 01:27 PM  
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Yep, Fosun are relaunching TC as an online travel agency. It will also take over the TC brand hotels, Casa Cook and Cook’s Club. Apparently TUI had also put in a bid but were rejected.

In other news, TUI is going to take over some other hotels previously owned by TC in Spain, Turkey, and Greece. These were not TC branded.

Meanwhile, I see the old TC store in Stockport has reopened as a Hays Travel agent. Sadly, when I walked past the other day, even though it was open it was completely empty of customers. The staff members looked thoroughly bored.
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Old 5 Nov 19, 01:47 PM  
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Fosun Group are a huge company with many divisions that own/invest into many names we are familiar with..Club Med ,Cirque du Soleil ,even my club Wolves. They have invested in TC a few years ago and had tried to save it as others have said. From what I understand its the brand name they have bought Hopefully they have the know-how to make it a success how they want it to be. Time will tell.
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Old 5 Nov 19, 02:44 PM  
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Originally Posted by Nimbus View Post
Yep, Fosun are relaunching TC as an online travel agency. It will also take over the TC brand hotels, Casa Cook and Cook’s Club. Apparently TUI had also put in a bid but were rejected.

In other news, TUI is going to take over some other hotels previously owned by TC in Spain, Turkey, and Greece. These were not TC branded.

Meanwhile, I see the old TC store in Stockport has reopened as a Hays Travel agent. Sadly, when I walked past the other day, even though it was open it was completely empty of customers. The staff members looked thoroughly bored.
It is completely the wrong time of year, I've worked in travel for 16 years it's always quiet this time of year. Things pick up straight after Xmas. The Hays deal is only a 3 month trial and I think they've picked the worst possible time to do it. I also think the shops weren't the part of the company that needed rescuing, it's the airline and tour ops. The high street was already over saturated with stores. Our local town had 2 co-ops and 1 Thomas cook, a Tui and a couple of independants. They were always empty. I hope they do well but I don't think it's being given a fair chance and we'll see the majority of them closing again.
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Old 15 Nov 19, 09:14 PM  
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JayPR
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Believe Hays have bought the leases of TC shops,well they have in my area(3 shops).They all have 9 months left on their leases.Hays will have to pay the rents and rates on these premises,for the one in our town that equates to 82,500 k.
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