Thomas Cook

Hays Travel agrees deal with KPMG to acquire 555 Thomas Cook stores

Independent travel agent chain Hays Travel has agreed a deal to acquire Thomas Cook’s entire UK retail estate, which could save up to 2,500 jobs. The official receiver and special managers from KPMG announced that an agreement has been reached, and the move will see the travel agent will acquire…

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FRC to investigate Thomas Cook auditor following collapse

The Financial Reporting Council (FRC) has announced it will be investigating Thomas Cook’s auditor EY, following its collapse last week which left 21,000 staff redundant and 15,000 British tourists stranded abroad. The investigation will look into the audit by EY of the financial statements of Thomas Cook for the year…

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Government policy denied Thomas Cook £2.5m tax stimulus, says Altus

As the repatriation of holidaymakers of collapsed tour operator Thomas Cook continues, it has emerged that the company’s high street shops in England were ‘denied’ a £2.49m tax cut due to government policy. Real estate adviser Altus Group said that the tour operator should have been a “big winner” under…

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FRC considers investigation into Thomas Cook collapse

The Financial Reporting Council (FRC) has revealed it is weighing up an investigation into the Thomas Cook collapse. An FRC spokesperson said that “in light of recent developments at Thomas Cook” it is considering whether there is any case for investigation and enforcement action as a “matter of urgency” and…

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KPMG appointed as Thomas Cook administrators

Insolvency experts from Big Four accounting firm KPMG have been appointed as special managers to Thomas Cooks’ retail and aircraft maintenance divisions. The British tour operator announced that all of the companies in its group, including Thomas Cook Airlines ceased trading yesterday after last-ditch negotiations failed. As a result, all…

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