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£280 million Thomas Cook Pay-Out

The Official Receiver has announced plans to return £280 million to creditors of the Thomas Cook group of companies, the high-street travel chain which went into liquidation in 2019 after last-minute efforts to secure a rescue deal failed.

The group is made up of 57 different businesses in liquidation, “not all of which will make payments to creditors and the payments made will be at different rates for each company,” according to a notice issued by the Insolvency Service.

The group employed 22,000 people at the time, including 9,000 in the UK.

The Insolvency Service said: “Following the collapse of the Thomas Cook group of companies, the Official Receiver has worked hard 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 as Official Receiver and Liquidator of the Thomas Cook 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.”


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