| Journal: TWUK | Section: |
| Title: | Issue Date: 22/05/00 |
| Author: | Page Number: 1 |
| Copyright: Other |
Thomas Cook closures on hold
THOMAS Cook has frozen plans to close up to 50 UK branches until it has a new owner.The company was due to announce the shutdowns last week as part of a review.
Thomas Cook retail managing director Manny Fontenla-Novoa said the review had been suspended immediately following German owner Preussag’s decision to sell off its 50.1% share in Thomas Cook in order to buy Thomson.
Fontenla-Novoa said:”We will look at the network again once we have a new owner.”
He refused to confirm which shops had been earmarked for closure but it is believed that they are in areas where the multiple has two or more branches close together.
Fontenla-Novoa added all staff affected by the closures would be relocated elsewhere. The company is to open two new warehouses. Locations have yet to be revealed.