Read All Newspapers in one Place - Download our App for free. DOWNLOAD
Travel company, Thomas Cook, has received approaches for parts of its business and the firm as a whole, according to reports. The business had put its airline arm up for sale in February and said last month it would close 21 stores across the country to cut more than 300 jobs. Chinese investment firm, Fosun International, could bid for the company’s tour operating business, Sky News reported. Thomas Cook declined to comment, so also Fosun International, which runs a joint venture with Thomas Cook in China, did not immediately respond to a request for comment. Insiders told Sky it could be months before any formal offer is lodged, and there is no guarantee one will be made. Thomas Cook is the world’s oldest tour operator and was founded in Market Harborough in 1841 by businessman Thomas Cook. It started off with organised railway outings for members of the local temperance movement. It now has annual sales of £9billion, 19 million customers a year and 22,000 staff operating in 16 countries. In September, Thomas Cook said profits would be hit after the summer heatwave saw many take their holidays in the UK. It issued a second profit warning in November, when it said winter bookings were also down. The shop closures will take the number of Thomas Cook outlets down to 566.