October 9, 2019 / 10:27 AM / 12 days ago

Rescue talks for Thomas Cook Germany are going well: liquidator

BERLIN (Reuters) - Talks with potential strategic and private equity investors to rescue Thomas Cook’s German tour business going well and many investors have expressed interest in the company as a whole or in its branches, the insolvent company’s liquidator said.

“The investor talks are in full swing, running well and giving hope,” Julia Kappel-Gnirs, a liquidator of Thomas Cook Germany’s Bucher Reisen and Oeger Tours units, said in a statement on Wednesday.

The travel firm on Wednesday said it was cancelling all travel operations until Dec. 31, adding that it was working to resume travel in the beginning of 2020.

Thomas Cook, the world’s oldest travel firm, collapsed earlier this week, sparking the largest peacetime repatriation effort in British history and a scramble for survival among many of its subsidiaries.

Last month, Thomas Cook Germany filed for insolvency in a move aimed at separating its brands and operations from its failed parent and the German government said it was considering an application for a bridging loan from the company.

Reporting by Riham Alkousaa, editing by Louise Heavens

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