I have no particular relevant expertise but it looks like an interesting move. With the dwindling numbers of big name high street travel companies, it may also be a shrewd move if it takes advantage of the limited retail competition in the short- to medium-term and is part of a longer-term strategy which may see a withdrawal if the only money to be made, ultimately, is through online sales. Whatever, while I don't know what liabilities the company has, it's quite impressive to deliver around 2% profit on turnover in the travel business (and on a quite respectable turnover, at that) as they seemed to do last year. Presumably, to still be in business and profitable after 40 years, the Hays' choose their product carefully and offer something that their customers want, if they can do this in locations in which they currently have no presence they may do well, especially if they are able to negotiate good deals on leases etc. Time will tell - but I wish the Hays and their employees, both old and new, well.
Interesting also to see that the shops will be rebranded. Does this mean that the Thomas Cook brand is already so toxic it's better to bury it quickly?