The assets of the former UK travel giant would be used by Fosun to market holidays around the world, and could even see it return to the UK one day, Sky News said.

The £11 million deal includes the trademarks, domain names, social media and licences including the Casa Cook and Cook’s Club brands.

Fosun chairman Qian Jiannong told Sky News: "The acquisition of the Thomas Cook brand will enable the group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism."

He added: "Following the acquisition, the group will focus on business expansion, using the newly acquired Thomas Cook brands to create synergies with the existing businesses of the group."

This comes after sources told the Financial Times a number of other groups were bidding for the intellectual property rights, including Tui.

Chinese conglomerate Fosun was part of the group of lenders and bondholders that were putting together a £900m rescue package before Cook collapsed. 

It held an 18% stake in Cook.