Thomas Cook knocks another chunk off debt
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.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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