Access the main content

News

Thomas Cook France will survive in part thanks to several buyouts

While the mother company of Thomas Cook went into liquidation September 23, 2019, the French subsidiary was forced to begin bankruptcy proceedings on October 1. A consortium of businesses took ver more than 80% of the subsidiaries agencies.

Game over for Thomas Cook in France, which was sold to several retail companies. The court in Nanterre (Hauts-de-Seine) had to choose between 12 partial takeover bids for the French subsidiary on November 28. The bid that ensured that the largest number of branches could be preserved was retained. This offer consisted of several buyers. Thus, a consortium consisting of Havas Voyages (Marietton group), Salaün Holidays, Karavel-Promovacances, Le Vacon, Sainte-Claire, Prêt-à-partir, Esprit de Voyages, Citra Voyages, Voyages d'Affaires Broc's Voyages and Servotel was therefore selected to take over a large majority of the former British tour operator's sales outlets in France.

An official press release stated:

In order to save and safeguard as many jobs as possible, the court ruled in favour of a takeover by various buyers of 149 branches and part of the "group" business for 25 employees, representing a total of 347 jobs taken over.

Of the 174 agencies that the subsidiary originally had, 149 will survive bankruptcy. Half of all jobs will thus be maintained, meaning 347 of the 685 positions. The 141 agencies will be divided between six companies as follows: Havas Voyages will take 19, in addition to 99 agencies formerly franchised by Thomas Cook, which will also join the French tour operator through new franchise contracts; the Navitour Voyages/Sainte-Claire group will take over 38 agencies in northern France; the Breton company Salaün Holidays will get 58 outlets; the Karavel group (Promovacances), 13 agencies; Voyages le Vacon, 12 agencies; and Prêt-à-partir, 3 agencies. Four minority buyers are also involved in the takeover: Esprit de Voyages with an agency in Sceaux, Citra Voyages with an agency in Troyes, Voyages d'Affaires Broc's Voyages with two agencies (Paris Auteuil and Paris la Motte Piquet) and finally Servotel with a point of sale in Montrouge.

Loading...

You have consulted 10 content. Go back home page or at the top of the page.

Access next article.

Sign up to add topics in favorite. Sign up to add categories in favorite. Sign up to add content in favorite. Register for free to vote for the application.

Already signed up? Already signed up? Already signed up? Already registered?