Thomas Cook closes 125 more shops
Thomas Cook is planning to close about 200 of its high-street travel agencies in a move which threatens more than 1,000 jobs.
The company had already announced the closure of about 75 shops following its merger with Co-operative Travel, but it is set to add another 125 on Thursday when it unveils the results of a wide-ranging review of its UK operations.
Thomas Cook will be left with about 1,000 high street stores across the UK following the closures, which will be in several stages, with staff redeployed elsewhere where possible.
The company, whose founder began offering excursions in the 1840s, has been going through a difficult period, issuing three profits warnings this year amid weak demand for travel. These unsettled investors so much that Thomas Cook's shares have slumped from about 200p in January to close on Friday at just 41.6p.
To compound the crisis, Manny Fontenla-Novoa resigned suddenly as chief executive in August, with his deputy, Sam Weihagen, taking over until a permanent replacement can be found.
Thomas Cook also has a new chairman, having appointed Frank Meysman in September to succeed Michael Beckett from 1 December.
Thomas Cook declined to comment on any additional store closures ahead of the scheduled announcement on Thursday. The group is Europe's second-biggest tour operator, after Tui, and sells about 22.5 million holidays to Britons each year.
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
- 5 Friends reunion: Jennifer Aniston, Lisa Kudrow and Courteney Cox perform mini sketch on Jimmy Kimmel Live
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Joan Rivers: 'Palestinians deserve to be dead'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
£20000 - £30000 per annum + OTE £40 - £50K first year: SThree: SThree Group an...
£400 - £450 per day + competitive: Orgtel: My client, a leading bank, is curre...
£20000 - £30000 per annum + OTE £40-50K first year: SThree: The SThree group i...
£300 - £350 per day + competitive: Orgtel: Cost Reporting Manager - MI Packs -...