Chinese company pledges to buy Thomas Cook brand name

The iconic British travel company Thomas Cook will live on as a brand name after being bought by Fosun Tourism, the Chinese owner of the Club Med tourism brand, BBC reported.

The broadcaster said Fosun Tourism had offered 11 million pounds ($14.2 million) for the brand, which went bust earlier this year. Fosun plans to also secure the company's Casa Cook and Cook's Club hotel brands.

Fosun Tourism's chairman, Qian Jiannong, reportedly said the company "always believed in the brand value of Thomas Cook".

Fosun Tourism had been the largest shareholder in Thomas Cook before the company went bust and had planned to heavily invest in it.

Last month, the northern England company Hays Travel said it would buy all 555 of Thomas Cook's High Street stores in a deal said to be worth 6 million pounds.

Thomas Cook was founded in 1841 and grew to become a global brand before its collapse on September 23.