ALL 555 of Thomas Cook's stores have been agreed to be bought by rival firm Hays Travel.

The move is estimated to save up to 2,500 jobs - and Hays has already recruited a total of 421 former Thomas Cook employees.

The independent travel agent is buying the shops from the Official Receiver which was appointed when Thomas Cook collapsed last month.

Read more: Thomas Cook workers 'gutted and angry' at loss of beloved jobs

A statement from Hays owners John and Irene Hays, said: “Thomas Cook was a much-loved brand employing talented people. We look forward to working with many of them.”

The company now intends to reopen the shops immediately.