Peterborough holiday giant shrugs off takeover fears

Peterborough holiday giant Thomas Cook has shrugged off talk of a takeover.

Wednesday, 1st May 2019, 5:53 pm
Updated Wednesday, 1st May 2019, 5:58 pm
Thomas Cook

The travel operator, which employs about 1,100 people at Westpoint, in Lynch Wood, says it is business as usual despite reports the company is being lined up for a possible takeover.

A spokeswoman said: “It is business as usual. As we move into our key summer period, we are focused on selling our great range of holidays, ensuring we have all the services and support our customers expect from us.

“We’re making sure the exciting new own-brand hotels we are opening this summer are up and running at their best, ready to welcome their first holidaymakers.”

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Speculation is growing the 178-year-old tour operator is being lined up for a takeover bid by Chinese investment firm Fosun, which is Thomas Cook’s largest shareholder.

Thomas Cook has been beset by difficulties as it tackles a challenging market place.

It issued two profits warnings last year, put its airline business up for sale and announced the closure of 21 stores, and recently warned it may have breached its own borrowing limits.