A group of Arcandor’s creditor banks are considering ways to dispose of most of the insolvent German retail group’s majority stake in Thomas Cook, the UK tour operator.

The confirmation that banks are considering how to sell the 43.9 per cent stake could herald a shake-up at the travel company, which has annual sales of £8.8bn. It would also be an important step towards an eventual break-up of Arcandor, which the troubled group has been keen to avoid.