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Daily Mirror
Daily Mirror
Business
Emma Munbodh

Thomas Cook to close 21 stores and axe 320 jobs

High street travel agent Thomas Cook is set to axe 21 stores at a loss of hundreds of jobs.

On Friday, the holiday specialist said that the closures are part of plans to "streamline" its UK retail network as part of an efficiency programme while also addressing changing customer behaviour.

A consultation process with the affected staff and unions has begun - an estimated 320 roles have been put at risk.

Thomas Cook's chief of tour operating Will Waggott said: "Today's announcement reflects the wider challenges seen on the high street, with more and more customers choosing to book online.

Thomas Cook reveals it could SELL entire airline business amid fears of future 

A market announcement - outlining the closures - said the chain's high street presence has been affected by the growth of online shopping.

It said more and more holidaymakers are switching online, accounting for 64% of all Thomas Cook bookings in the UK past year.

Growth in online has been the fastest in all sales channels, rising by 30% in 2018 with "continued strong momentum".

"These measures will help us to drive greater efficiencies across Thomas Cook so that we relentlessly focus our resources in those areas that give us the greatest opportunity to make a difference to customers in our core holiday offering," Waggott added.

"Looking ahead, we will be working to ensure that Thomas Cook is fit for the future, putting a rigorous focus on costs in a competitive environment while giving customers more reasons to holiday with the strongest brand in travel."

The announced will result in Thomas Cook's retail estate reducing to 566 shops, with the jobs to be lost including 102 customer-facing roles and a further 218 store-based roles removed as part of the review.

Last month the retailer revealed it is exploring options to potentially sell its entire airline arm amid concerns over the company's future.

The travel giant said it will conduct a strategic review of its flight business, which will consider "all options to enhance value to shareholders".

It came as Thomas Cook reported a 1% rise in first quarter revenue to £1.65 billion while underlying operating losses increased by £14 million to £60 million.

It said this was led by strong customer demand for Turkey and North African destinations, offsetting weaker demand for Spain. However sales fell over weaker demand for winter holidays in the Nordics.

Thomas Cook reveals what will happen to your flights if airline gets sold off 

Full list of Thomas Cook branches closing

  • Gosforth, Newcastle Upon Tyne
  • West Bromwich Sandwell Centre, West Midlands
  • Llandudno, North Wales
  • Sunderland Sainsbury's, Tyne & Wear
  • North Shields, Tyne & Wear
  • Peterlee, County Durham
  • Accrington, Lancashire
  • Market Harborough, 23 St Marys Place, Leicestershire
  • Bury Haymarket, Lancashire
  • Stratford-upon-Avon, Warwickshire
  • Aberdeen Langstane, Aberdeen
  • Chesham, Buckinghamshire
  • Launceston, Cornwall
  • Stevenage, Hertfordshire
  • Shipley, West Yorkshire
  • Cumbernauld, North Lanarkshire
  • Guildford, Surrey
  • Glenrothes, 52 Unicorn Way, Fife
  • Colchester High St, Essex
  • Kingston upon Thames, Surrey
  • Kirkintilloch Cowgate, Glasgow
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