Thomas Cook has further reduced its debt with the sale of its Belgium offices for €14.3m (£11.5m).
The Group will lease back the premises in Gent from new owner Koramic Real Estate, which has retained €2m from the sale as a prepayment of rent.
In a statement released today, Cook said: "The Group remains committed to reducing the net debt of the business and this transaction is part of that process. Transaction proceeds will be used to reduce the Group’s borrowings and/or for general corporate purposes."
As at March 31, the gross assets recorded in Thomas Cook’s accounts in respect of the property were €9.3 m.
