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Hays Travel paid just over £6 million for Thomas Cook shop licenses
Hays Travel paid just over £6 million for the licenses for Thomas Cook’s 555 shops, it has emerged.
The figure was confirmed during a probe into Thomas Cook’s collapse by the Business, Energy and Industrial Strategy Committee which continued today.
MPs were told the Official Receiver was satisfied the Hays Travel deal was the best outcome for creditors with there being ‘little or no value’ around some of the stores.
"The recommendation was that this was the best deal on the table," Insolvency Service CEO Dean Beale told the committee.
He also confirmed that the Official Receiver would investigate whether the bonuses of former directors can be clawed back.
Former CEO Peter Fankhauser has already refused to give back any of the £558,000 he received in 2017.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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