Thomas Cook store in Welwyn Garden City will survive nationwide cull
PUBLISHED: 06:30 15 December 2011 | UPDATED: 11:50 16 December 2011
DESPITE travel firm Thomas Cook saying it will close 200 stores over the next two years, the branch in Welwyn Garden City will survive.
A tranche of 150 loss-making outlets will be closed after the firm revealed losses of nearly £400m in the first part of 2011.
A Thomas Cook spokesman told the WHT: “The store in Welwyn Garden City will not be closing.
“It’s not one of the 150 that have been announced.”
The setback compares to £42m profit in the previous year, and has been blamed partly due to poor trading because of uprisings in the ‘Arab Spring’ and floods in Thailand.
Shares in the company have lost more than 90 per cent of their value since March.
But the firm insists it’s UK “turnaround plan” was under way, which aims to improve profits by £110m a year.