Suffolk jobs could be saved after the UK’s largest independent travel agent acquired Thomas Cook’s entire retail estate.
Hays Travel has announced it will take over 555 former Thomas Cook sites, including all Suffolk branches.
The agreement will also provide re-employment opportunities for a significant number of former employees and is a huge leap for Hays which currently has 190 shops across the country.
MORE: Planning permission granted for huge Suffolk business parkThe firm has already recruited 421 former Thomas Cook employees and this latest move could provide as many as 2,500 jobs for former employees.
Before its collapse last month Thomas Cook operated from a number of high street locations across the county, including Ipswich, Sudbury, Stowmarket and Bury St Edmunds.
The official receiver and special managers from KPMG were appointed to head up the travel giant's liquidation and have said the deal represents an important milestone in the process.
David Chapman, official receiver, said: "I am pleased to announce we have reached an agreement with Hays Travel to acquire Thomas Cook's entire UK retail estate, comprising 555 stores across the country.
"This represents an important step in the liquidation process, as we seek to realise the company's assets."
Jim Tucker, partner at KPMG, added: "This is an extremely positive outcome, and we are delighted to have secured this agreement. It provides re-employment opportunities for a significant number of former Thomas Cook employees, and secures the future of retail sites up and down the UK high street.
"We are pleased to have achieved this in a short time frame and in the context of a complex liquidation process, which is testament to a lot of hard work from a number of parties.
"Over the weeks ahead, we will work closely with Hays Travel and landlords to ensure a smooth transition of the store estate."
Along with Hays Travel the company also runs the Hays Travel Independence Group, a consortium of independent travel agents, and Just Go Travel.
John and Irene Hays, managing director and group chair, added: "Thomas Cook was a much-loved brand employing talented people. We look forward to working with many of them."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here