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Thomas Cook Facing Closures

Thomas Cook may be closing 50 of its shops across the UK as part of a restructuring plan they have underway. As many as 400 jobs could be at risk and they plan to implement these plans between now and March.

The closing stores are either close to other locations or have had a decline on traffic that has impacted their ability to profit. As Kathryn Darbandi, the Director of Retail and Customer Experience said, “We continually review our network of stores across the UK to make sure we’re offering customers the best of Thomas Cook. It is clear that to succeed we have to operate as a truly omni-channel business.”

Up until September 30, Thomas Cook had earnings of £52million for the UK division, which was down from £86million last year.