Thomas Cook Will Close 200 Travel Stores, Cut Planes, Times Says
Stock Chart for Thomas Cook Group PLC (TCG)
Analysts expect the company to make “big” accounting writedowns this week and Sam Weihagen, interim chief executive officer, may order a review of its brand portfolio, the newspaper said. Recruiter Spencer Stuart has been appointed to find a new CEO, the paper said.
Thomas Cook will on Nov. 24 release results of its U.K. review announced earlier this year to “refocus the product strategy in mainstream package holidays, streamline the U.K. airline, improve yield management and operational excellence,” according to an e-mailed statement from a public affairs company representing Thomas Cook. It didn’t comment on the number of travel offices that would be closed.
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