Tui Travel may close up to 150 high-street stores over five years
One of the “big two” tour operators, Tui Travel, has said that it may close up to 150 shops in the UK over the coming five years. It wants to cut its retail outlets as more and more customers book their holidays on the internet. There are “no plans for a mass closure of shops”, but it plans to “slowly consolidate” its existing portfolio of 855 Thomson and First Choice agencies in the UK. Tui acknowledged that there was a clear trend.
“We will have fewer shops as the trend is significantly moving online,” Tui’s chief financial officer Will Waggott said. “In five years, we will probably have 100 fewer shops and it might be as high as 150.”
Around 40 percent of Tui’s sales in the UK are online and the company expects this to grow.
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