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Published on Wednesday, October 23, 2019

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.



 

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