Hays Travel has already recruited 421 former Thomas Cook staff and has further offers outstanding to former employees. The deal will take Hays’ shop network to 745.

Chair Irene Hays said: “Thomas Cook was a much-loved brand and a pillar of the UK and the global travel industry. We will build on the good things Thomas Cook had – not least its people – and that will put us in even better stead for the future.

Related: Hays Travel aims to re-open all 555 Thomas Cook shops