Thomas Cook plans ‘spring clearout’, claims report

Thomas Cook plans ‘spring clearout’, claims report

A ‘spring clearout’ of non-core businesses is being plotted by Thomas Cook chief executive Harriet Green, according to a weekend report.

Companies under the spotlight include Thomas Cook Essentials, Thomas Cook Sport and Elegant Resorts alongside ski arm Neilson, the Sunday Times reported.

Green is due to unveil her turnaround plans for the travel group next week (March 13). While an offloading of non-core businesses is expected to be part of the plan they are unlikely to be identified.

No decisions on the future ownership of the various brands have been taken and some may be retained, company insiders were quoted as saying.

Morgan Stanley analysts have suggested that up to £150 million could be raised through sell-offs but this could affect revenues.


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