Tour operator reported to be considering further closures in UK
The embattled tour operator Thomas Cook is reported to be considering announcing another 125 shop closures later this week, on top of 75 already revealed. According to The Sunday Times newspaper in the UK, the company is about to declare a new wave of closures to cut the number of stores in the country from 1,200 to around 1,000. The “under-performing” stores will shut down in phases. Employees are complaining that they heard about this news from the media before it came from the company itself.
Thomas Cook announces its full-year results this Thursday following several profit warnings and the departure of a chief executive. A recent retail merger with Co-operative Travel took place this year.