Updated: Thomas Cook ‘committed’ to retaining high street presence

| May 31, 2019, 08:00

Thomas Cook has told travel and transport union TSSA that it is “absolutely committed” to retaining a presence on the high street.

Cook also told the union that no major changes to the current operating model are expected over the “short to medium term”.

TSSA has been speaking to the company after expressing concerns about members’ jobs after Cook reported half-year losses of almost £1.5billion.

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Cook has closed more than 200 shops in the last three years, including 21 in March as part of a review of its retail performance.

When the results were announced, Cook chief executive Peter Fankhauser also warned of further cuts this year.

TSSA said “hundreds” of Cook staff were members, primarily in retail.

Cook employs around 3,800 staff across its store network in the UK.

Just under 220 sales consultant roles were made redundant and a further 102 staff roles removed as a direct result of the 21 shop closures earlier in the year.

General secretary, Manuel Cortes, has welcomed the assurances but said it would continue to “fight for members’ jobs”.

“We of course welcome this commitment from Thomas Cook that they have no plans to leave our high streets,” Cortes said. “Our members and many customers will be delighted to hear this.

“I’m also pleased that the company seems to feel that for the foreseeable future the Thomas Cook business model is not under undue stress.

“However we remain committed to fight for our members jobs at Thomas Cook and will press the company about the detail of their plans – especially around the number of high street shops facing potential closure in the coming weeks and months.”

Spekaing at the year-end results on May 16, Peter Fankhauser, Thomas Cook chief executive, said: “The priority is that we are maximising what we can get out of our retail stores, and really being efficient.

“We have always said we review the retail footprint constantly and if a shop is falling below the line of profitability and has no chance to return to profitability then we see where we can transfer the customer into the next shop and we close the shop when the leases expires.”