Sunday, July 14, 2024

Official Reciever plans to give £280m to Thomas Cook creditors

The Official Receiver has announced plans to return £280m to creditors of the Thomas Cook group of companies, the high-street travel chain which went into liquidation in 2019.

Following the collapse of the Thomas Cook group of companies, the Official Receiver has worked across a complex group of liquidations to realise all available assets for the benefit of creditors.

This has included a broad range of assets including the sale of airport slots, hotel investments and high street stores which were owned across the group of companies.

David Chapman, who was appointed by the Court as Official Receiver and Liquidator of the group, said:  “I understand that a lot of people lost money following the collapse of Thomas Cook. My team has been working hard to finalise the liquidation, maximising funds which can now be distributed to creditors.

“I would encourage creditors to visit the dedicated Thomas Cook Claims Site to check the position regarding their claim as soon as possible, so we can consider whether they should receive any part of the funds being distributed.“

The Thomas Cook group is made up of 57 different companies in liquidation, not all of which will make payments to creditors and the payments made will be at different rates for each company.

It is expected that eligible creditors will be paid before the end of September 2024.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.








Latest news

Related news