Hays Happen to be buy all 555 Thomas Cook shops, save 2,500 jobs
The acquisition, for an undisclosed sum, is really a significant step for Hays, which includes 190 shops, 1,900 staff, year had sales of £ and last;379m, reporting profits of £10m.
Mr. Hays, who owns the continuing business with wife Irene, said: “This is a game-changer for all of us, almost trebling the real amount of shops we’ve and doubling our workforce – and for the, that may reach keep a few of its most talented people.”
Following today’s news, travel industry’s analytics and data experts offer their take on the deal.
Not many in this deal was seen by the coming nonetheless it is welcomed news for the traditional. This is a bold move ahead Hays’ part, but Thomas Cook is really a cherished brand having an established customer base and when Hays has negotiated well, the move may pay back.
depends on the terms of the offer
Much. As that is breaking news, the will not know the expense of the offer yet, what terms could be agreed with landlords for instance, but this is most a buyer&rsquo certainly;s market situation so Hays must have had the opportunity to negotiate favorable terms.
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Thomas Cook’s demise was the full total result of a variety of factors, but at the core was a mountain of debt that has been just very costly to service. Group revenue £ was;9.6 billion for FY2018, so there’s still demand for a number of the company’s services.
Hays will be able to operate minus the millstone of debt round its neck and the publicity round the Thomas Cook collapse could even spur visitors to look for Atol protected package holidays for reassurance, that will play into Hays’ hands.
The deal however isn’t, without peril. It has to conduct overview of store locations and operations and there could be a dependence on a rationalization at some time, particularly in areas where Hays includes a strong presence already. Hays may also must make sure it invests in digital trends as competitive online threats to a big store network are legion.
Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.