Thousands of jobs saved by the buyout of UK's Thomas Cook stores

The travel agent went bust in September, but now a rival has bought out the high street stores and protected many of the jobs.

FILE: In this photo taken on 12 July 2019, a sign is pictured at a branch of a Thomas Cook travel agent's shop in London. Thomas Cook declared bankruptcy on 23 September 2019 after failing to reach a last-ditch rescue deal. Picture: AFP

LONDON - Thousands of jobs have been saved in the United Kingdom following the buyout of the European package holiday giant Thomas Cook.

The travel agent went bust in September 2019, but now a rival has bought out the high street stores and protected many of the jobs.

When the package holiday went bust, it put 22,000 jobs at risk and left 150,000 people stranded abroad.

The holidaymakers had been repatriated but the employees feared for their future.

Now, a buyout by rivals Hays Travel has thrown them a lifeline.

The independent travel agent has bought all of the 555 Thomas Cook stores and re-employed many of the workers in those stores.

This massive deal shows some are confident of the travel industry with a High Street presence.