Thousands of jobs could be saved as Sunderland based Hays Travel buys 555 Thomas Cook stores

Thousands of jobs could be saved as independent travel agent Hays Travel based in Sunderland has agreed to buy the 'entire retail portfolio' of 555 Thomas Cook stores.

Hays has already recruited or offered work to hundreds of former Thomas Cook staff after the holiday company collapsed last month.

• Who are Hays Travel?

Hays Travel is proposing to re-open the stores with immediate effect wherepossible and to take on up to 2,500 people.

Over 100 new jobs will be based at the company’s Sunderland headquarters with the rest in shops across the UK.

• READ MORE: This is a high stakes move by Britain's biggest independent travel agent.

John and Irene Hays, managing director and group chair of Hays Travel, said:

When news of Thomas Cook's collapse broke, John Hays, Managing Director of Hays Travel, told ITV News Tyne Tees,

Read more:

• Former Thomas Cook employee says she's defaulted on her mortgage after losing her job

• Thomas Cook staff forced to rely on handouts

• Thomas Cook customers can now claim refunds