Thomas Cook - Case Update

The Official Receiver has announced plans to return £280 million to creditors of the Thomas Cook group of companies.

Thomas Cook was a UK-headquartered global travel group listed on the LSE. The group — comprised of 57 different companies — collapsed into liquidation in September 2019, after talks of a government funded bailout failed. David Chapman was appointed by the Court as Official Receiver and Liquidator.

At the time of its collapse, Thomas Cook employed approximately 21,000 people worldwide (including 9,000 in the UK) and had 600,000 customers (150,000 from the UK) who were left abroad, triggering the largest peacetime repatriation seek in the UK’s history.

Following the collapse, the Official Receiver has worked to realise assets across a complex group of liquidations for the benefit of creditors. In October 2019, independent travel agent Hays Travel acquired all 555 former Thomas Cook travel stores in the UK, and announced plans to re-employ approximately 2,500 retail staff. Fosun International purchased the Thomas Cook name and logo and the Casa Cook and Cook's Club hotel brands for £11 million, while easyJet and Jet2holidays acquired Thomas Cook’s airport slots for £36 million.

These efforts have resulted in a collective £280 million to be returned to creditors. The Official Receiver is encouraging creditors to submit a claim through the dedicated claims site if they have not already done so before 2 August 2024.

The announcement can be found HERE.