Thomas Cook brand sold to Fosun for £11m

The Thomas Cook brand has been bought by the Chinese owner of Club Med, Fosun Tourism, for £11m.

Fosun were once earmarked as a potential saviour for the troubled tour operator before it went into administration – however, last-ditch rescue talks failed last month.

It has been rumoured that Fosun Tourism is also looking into the possibility of acquiring Casa Cook and Cook’s Club hotel brands in the coming months.

Fosun’s chairman Qian Jiannong, said: “The acquisition of the Thomas Cook brand will enable the group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism.”

Last month, Sunderland-based Hays Travel stepped forward to buy 555 Thomas Cook High Street shops.