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Thread: Thomas Cook

  1. #61
    @hibs.net private member cabbageandribs1875's Avatar
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    https://www.bbc.co.uk/news/business-...gFQmhnC1TyJK4E


    All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.


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  3. #62
    @hibs.net private member Ozyhibby's Avatar
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    Quote Originally Posted by cabbageandribs1875 View Post
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    https://www.bbc.co.uk/news/business-...gFQmhnC1TyJK4E


    All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.
    Exactly how capitalism should work. Thankfully the government did not do anything stupid like try to bail them out. Not sure the Scottish government could have resisted that temptation.


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  4. #63
    Testimonial Due Colr's Avatar
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    Quote Originally Posted by Ozyhibby View Post
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    Exactly how capitalism should work. Thankfully the government did not do anything stupid like try to bail them out. Not sure the Scottish government could have resisted that temptation.


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    How have they dealt with the debt? Loaded it up with even more?

    Donít hold your breath for a recovery.

  5. #64
    Coaching Staff Future17's Avatar
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    Quote Originally Posted by Colr View Post
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    How have they dealt with the debt? Loaded it up with even more?

    Donít hold your breath for a recovery.
    Hays aren't buying the TC business, so they won't have to do anything with the debt.

  6. #65
    @hibs.net private member Ozyhibby's Avatar
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    Quote Originally Posted by Colr View Post
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    How have they dealt with the debt? Loaded it up with even more?

    Donít hold your breath for a recovery.
    The debt is gone. The lenders have taken the hit.


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  7. #66
    Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.

  8. #67
    @hibs.net private member Ozyhibby's Avatar
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    Quote Originally Posted by southsider View Post
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    Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.
    I have no idea but they must think there is enough business there for them. The good thing is if there isnít then itís them and their bankers who take the hit.


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  9. #68
    Quote Originally Posted by southsider View Post
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    Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.
    People clearly do use travel agents as hundreds if not thousands of people are out of pocket, not everyone likes booking holidays this way, I know one couple who will only book through a travel agent, personally I wouldnt

  10. #69
    Coaching Staff HUTCHYHIBBY's Avatar
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    Quote Originally Posted by southsider View Post
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    Am afaid they could be on to a looser. Do people still use Travel Agents to book a holiday ? More and more people just go onto the internet, book their flights then go to the likes of Trivago to book a hotel.
    From what I could make out from the news, the shops were making a profit, the business as a whole (including the running of TC HQ) wasn't. I'm sure as an existing High Street business Hays will have done their sums re taking on the shops only.

  11. #70
    @hibs.net private member danhibees1875's Avatar
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    I'm not really sure if they've bought buildings or taken on defaulted leases, or a mix. I've only read headlines about the latest stuff so it may have been covered.

    I'd imagine it's mostly the defaulted leases and given the state of the high streets up and down Britain they probably got a good deal on them, they'll also have earned a bit of goodwill generally from saving a lot of TC jobs - not sure that translates into much business in their industry though.

    The numbers show a pretty staggering acceleration of shop fronts and employees though, rapid growth in a troubled and declining market (I'd assume) at the peak of uncertainty around Brexit etc... Can't say they're not ballsy.
    Mon the Hibs.

  12. #71
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    Quote Originally Posted by danhibees1875 View Post
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    I'm not really sure if they've bought buildings or taken on defaulted leases, or a mix. I've only read headlines about the latest stuff so it may have been covered.

    I'd imagine it's mostly the defaulted leases and given the state of the high streets up and down Britain they probably got a good deal on them, they'll also have earned a bit of goodwill generally from saving a lot of TC jobs - not sure that translates into much business in their industry though.

    The numbers show a pretty staggering acceleration of shop fronts and employees though, rapid growth in a troubled and declining market (I'd assume) at the peak of uncertainty around Brexit etc... Can't say they're not ballsy.
    Well I hope it works out for them but your last para sums it up for me.

    And digging into the TC story a bit shows that it was their takeover of MyTravel that was the root of many of their ills so I hope this is not a wee bit of history about to repeat itself.

  13. #72
    @hibs.net private member Captain Trips's Avatar
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    Once all the generations of people who are not fans of using online are gone there will be lots more shops closing and lots of people out of work. I think curry's pc world type places will all be gone in next 10yrs or so.

    Companies that needed 1000s will need 100s.
    If I choose to revert back to Carlsberg it will have to be The Carlsberg

  14. #73
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    Quote Originally Posted by Captain Trips View Post
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    Once all the generations of people who are not fans of using online are gone there will be lots more shops closing and lots of people out of work. I think curry's pc world type places will all be gone in next 10yrs or so.

    Companies that needed 1000s will need 100s.
    Well, IMO the retail experience is utterly ****.

    Most of the retail industry seems complacent and stuck in a past thatís been diappearing for the last two decades and are utterly clueless how to respond.

    It needs a revolution. Itíll come

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