Business

Extra time for the return of Thomas Cook Frank

The Nanterre Commercial Court granted Tuesday an additional two weeks for the court administrators responsible for the Thomas Cook France case, to improve the fifteen or so offers currently on the table for the tour operator's recovery.

Thomas Cook France was placed in receivership on 1 October, following the resounding bankruptcy of its British parent company.

Fifteen partial recovery offers, all from tourism stakeholders, have been filed for the tour operator who employs 780 employees in France and owns 174 travel agencies in its own right – not counting 247 other franchised outlets that are not concerned. by the procedure.

The commercial court of Nanterre, in charge of the procedure, had to proceed to the examination of the files Tuesday, but the administrators asked for an additional period of fifteen days, until November 19, which was granted, indicated to the AFP a source close to the file.

750 million turnover

One of the offers is driven by the company's current management team, which is interested in taking over part of the distribution business and the tour operator business under the Jet Tours brand.

Among the other cases of recovery, five companies have come together to weigh heavier: Havas Voyages, Salaun Holidays, Karavel, Vacon and St. Clair jointly propose to take over 115 agencies in total, with 85% of the current workforce.

At the end of September 2019, Thomas Cook France claimed a turnover (“gross consolidated”) of 750 million euros, ranging between 380 million for its distribution network, and 370 million for its activity as a tour operator via the Jet Tours brand.

But according to its accounts filed in the registry, consulted by AFP, the French subsidiary also chained for years losses: -26 million for the year ended September 2018, -30 million in 2017, -21 million in 2016.

(with AFP)

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