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Thomas Cook getting sevco'd


Romeo

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14 hours ago, alta-pete said:


Read a fascinating story in The Sunday Times about how they had put the airline together in complete secrecy- clearly if the Government is openly contemplating them folding, all confidence is lost and the game is then very definitely a bogey.

That article is behind a paywall but The Guardian version here:

https://www.theguardian.com/business/2019/sep/23/how-secret-plans-saved-customers-of-thomas-cook-from-being-stranded

Pats on the back all round!

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Just back from Turkey with no real issues at all. We were supposed to be flying back with Titan airways but a Thomas cook/avion express A321 turned up. The flight crew were all decked out in Thomas cook gear and were only kept on for 2 weeks to deal with the repatriation flights. The flight was diverted to Manchester where we were then bussed back up to Glasgow. Credit to the CAA , they had refreshments for us on landing and were on the bus back up the road within 30 min of landing. No in resort issues either like some of the idiots seen on the news and online. Early on we were told we would have to make out on way to the airport, but 3 days before we left a piece of paper was stuck up on the information wall telling us our transfers would be happening as normal. It was just a pretty standard holiday with a bit of inconvenience at the end. I was really impressed at how it all played out, pats on the back all round.

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My flight to Lanzarote from Glasgow yesterday was diverted via Shannon due to a medical emergency on board, there were 10 Thomas Cook planes of various sizes parked up there. I'm sure it will be similar at various airports across the UK and Ireland.

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Noticed on Flightradar24 the last Thomas cook plane parked at Glasgow  on move. No destination marked on it so in full geek mode I’m keeping an eye on it.
Where did it end up? Had a look but think it had already taken off.
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On 09/10/2019 at 19:26, Boghead ranter said:

Brave move from them.

Too many Retail outlets was one of the major factors in TC's debt.

Brave? You must be Sir Humphrey Appleby. The market has moved online and TUI is closing shops too.

Hays has just bought all 555 shops and, apparently, taken on all the staff plus the associated costs. It's like a reverse takeover as Hays has under 200 shops. Why risk the family business on such a huge punt?

It's possible, If Hays has been lucky, that deal that enables the new owner to dump the unprofitable shops and costs at minimal cost. If not, this purchase  could break the company very quickly. We'll find out more over the next few months.

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On 09/10/2019 at 20:22, ajwffc said:

they probably got a better deal buying them all and will sell of the ones they don't want to keep. 

Who would buy the shops (i.e. take on the leases and staff) that Hays don't want?  If Hay's don't want them, they will be unprofitable or duplicate Hays existing shops in those areas.

The more likely option is that the unwanted TC shops could return to the ownership of the liquidator. But you don't find those kind of details in the press releases!

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I was surprised to see the Alloa store reopen considering Stirling is only a 10 min journey along the road. One shop could easily service both towns imo. Brave move by Hays

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10 hours ago, Bishop Briggs said:

Brave? You must be Sir Humphrey Appleby. The market has moved online and TUI is closing shops too.

Hays has just bought all 555 shops and, apparently, taken on all the staff plus the associated costs. It's like a reverse takeover as Hays has under 200 shops. Why risk the family business on such a huge punt?

It's possible, If Hays has been lucky, that deal that enables the new owner to dump the unprofitable shops and costs at minimal cost. If not, this purchase  could break the company very quickly. We'll find out more over the next few months.

I wasn't saying brave as a compliment or a positive.

The only way they MIGHT make it work is because they're purely a retailer, on commission, unlike TC who were also a tour operator and trying to run an airline etc.  If they get enough punters thru the door buying holidays and FX, they might pull it off.

Wouldn't surprise me if a lot of the shops they've taken on quietly close again in the near future, leaving them with only the profitable ones.

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