I am thrilled to hear the news that 555 Thomas Cook shops, along with around 2,000 staff have been taken on by Hays.
Turning to the numbers, I am still somewhat puzzled by it all but hope that Irene and John Hays have seen something good in all this which led them to this purchase.
Around two years ago, Hays Travel had around 95 shops mainly in the North East. They then doubled their shops to 190 with the purchase of Bath Travel. Now they are massively increasing their shops to 745 and these are all over the UK.
Nevertheless, this is a massive move for a couple who are already at retirement age.
I sincerely hope great things happen for the Hays Travel group and shall be keeping a keen eye on all they do.
They are going to need to do something truly amazing with their Thomas Cook purchase so does this mean that over the next two years, we will see closures of non-profitable shops?
Figures have not emerged as to the purchase cost of all these shops but, whatever that knock-down figure might have been, it does not get away from the fact that the re-branding of the stores, new fascias, new staff uniforms, wages etc… will add massive extra costs.
Okay, I wish them the best of luck. I really do, but still I do not see what the Hays have.