Thousands of Thomas Cook employees could be saved their jobs after independent travel agent said it will buy all 555 of the holiday company's stores after it collapsed late last month.
Hays Travel has already recruited 421 former Thomas Cook staff and has offered employment to more of the airline's personnel.
The deal will boost the high street presence of Hays, the UK's largest independent travel group.
David Chapman, the official receiver of Thomas Cook, said: "This represents an important step in the liquidation process, as we seek to realise the company's assets."
John and Irene Hays, managing director and group chair of Hays Travel, said: "Thomas Cook was a much-loved brand employing talented people. We look forward to working with many of them."
Thomas Cook went bust on September 23, with all of the firm's flights around the country, including Glasgow Airport, cancelled. Thousands of jobs were expected to be lost in the collapse.
The firm were unable to secure the extra £200 million needed to keep the business afloat following a full day of crucial talks with the major shareholder and creditors.
All passengers who were stuck abroad have been returned to the UK following Thomas Cook's shock collapse.
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