Fosun to acquire the Thomas Cook name for £11m

Fosun the Chinese conglomerate, is acquiring Thomas Cook’s brand  and intellectual property assets, for £11m, which could allow the business to be revived  ad an online travel agent months after it collapsed into administration.

Fosun was part of the group of lenders and bondholders that sought to put together a £900m rescue package that could have save Thomas Cook in September.

But the company collapsed after failing to secure a £200m funding needed to win support of the deal. Fosun is now  in advanced talks to secure the Thomas Cook name and related operations such as it upmarket casacook, Cook Club’s  brands and domain names, apps, social media and IP addresses,  Alix partners are selling these as part of restructuring the group on behalf of the official receiver.