The Limited Times

Now you can see non-English news...

Insolventer tour operator: German Thomas Cook ceases operations

2019-11-21T13:56:03.633Z

The boss speaks of a "sad end": A few weeks after the application for bankruptcy of the German Thomas Cook, the tour operator now ends his business - and wants to terminate the employees.




The insolvent German travel group Thomas Cook in Oberursel ceases operations. The organizer area with the Neckermann Reisen , Air Marin and Thomas Cook Signature brands will be closed next week, said Julia Kappel-Gnirs from the team of preliminary insolvency administrators.

With the opening of insolvency proceedings expected next week, the affected employees will receive the notice. This is less than half of the total of about 2100 employees. Sales of parts of the company will secure the future for more than 1000 employees.

The German Thomas Cook had fallen into the maelstrom of bankruptcy of the British mother and had filed for bankruptcy at the end of September. All trips were canceled, even if they had already been paid in full or in part. While the airline Condor, which has also been hit by the bankruptcy of the parent company, is being saved with state funds, the tour operator had to make do without public credit.

Interested parties are afraid

"It is a sad ending for employees and customers, to whom we can offer no continuation solution as a whole," said the managing director of the German Thomas Cook, Stefanie Berk.

According to the provisional insolvency administrator, after the bankruptcy petition on September 25, an attempt was made to "find a total solution for the company under great time pressure," Kappel-Gnirs said. "There were a lot of prospects, but many have shied away from the size of the company and the cost of start-up financing."

Some parts of the company already have buyers. The department store Galeria Karstadt takes over Kaufhof 106 of the 126 travel agencies of Oberurseler. As a result, more than 500 jobs are secured in the area. The Turkish tour operator Anex Tour acquires the Turkish specialist Öger Tours and the last-minute provider Bucher Reisen with a total of 84 employees. Both deals are subject to the approval of the antitrust authorities and the creditors' committee of Thomas Cook.

Competitor DER Touristik is interested in the hotel brand Sentido and the travel agency franchise brand Holiday Land. Interested parties are also reportedly for the well-known brand Neckermann Reisen, which is for many Germans for package holidays par excellence. Negotiations are also underway for the non-insolvent call center subsidiary in Bochum with around 500 employees.

Source: spiegel

You may like

Trends 24h

Latest

business 2020/01/16    

© Communities 2019 - Privacy