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Hays Travel To Acquire Entire Retail Portfolio Of 555 Former Thomas Cook Shops

Hays Travel, the UK's largest independent travel agent, agreed Wednesday to acquire the entire retail portfolio of 555 former high street shops of Thomas Cook Group Plc. (TCKGY.PK,TCG.L) after it signed a deal with the Official Receiver and Special Managers from KPMG.

The deal involves the re-opening retail premises that will complement Hays Travel's own 190 shops across the UK.

This move by Hays Travel is expected to save up to 2,500 jobs by proposing to re-open the stores with immediate effect where possible. It has already employed more than 25% of the former Thomas Cook retail employees.

More than 100 new jobs will be based at Hays Travel's Sunderland headquarters with the rest in shops across the UK.

Thomas Cook was placed in compulsory liquidation on September 23rd, upon which the Official Receiver was appointed by the court as liquidator.

Hays Travel, at the invitation of the Civil Aviation Authority, immediately responded to support thousands of stranded customers on holiday or with holidays booked.

The deal announced today involves re-opening retail premises that will complement Hays Travel's own 190 shops across the UK.

Hays Travel is a private company, jointly owned and managed by John Hays, Managing Director, and Irene Hays, Chair of the Hays Travel Group.

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