Thomas Cook who is trying to cut down their debts has shocked holiday makers in the West Midlands by closing seven of their Thomas Cook high street travel agents. The company who are closing 125 high street travel agents announced the news today that the West Midlands would be one of the regions where their high street travel agents would no longer be available.
Staff at Thomas Cook are not happy at the move with some staff who are set to lose their jobs blaming the closure of their shops on bad management at board level. Some staff has questioned the reason why they bought the Co-Op when they were already in debt and this question has also been asked by leading travel experts as well as business leaders.
The closure of the shops is good news for the likes of Thomson and First Choice who have been using the problems with Thomas Cook to their advantage.
Thomas Cook announced that there will be a total of 600 jobs that will be lost over the next two years with some travel experts asking if the high street travel agent will last that long with their recent financial troubles.
The company posted a pre-tax loss of £398 million for the year to September 30.
Thomas Cook UK chief executive officer Ian Ailles, said: “We’ve undertaken a comprehensive review of our retail network and today’s proposals will ensure that as the UK’s leading high street travel retailer we have the right stores in the right places for our customers.
“We will now be consulting with those affected colleagues and looking at the redeployment opportunities,” he added.
“Our high street stores are a popular way for customers to book with us and are an essential part of our multi-channel approach – alongside our websites and sales centres.”