Cook-Co-op deal hours away from approval
Thomas Cook has dismissed a report over the weekend that it is considering closing hundreds of shops following its planned retail merger with The Co-operative Travel, which is expected to get the final seal of approval tomorrow.
A spokesman for the Competition Commission confirmed today that its final decision into the proposed merger, which would create a chain of over 1,300 shops, was likely to be announced in the morning.
The Sunday Times claimed that Thomas Cook was "mulling plans" to shut hundreds of shops following the deal, despite earlier claims by the retail chain that only around 75 would close.
It pointed out that the merger was masterminded by former chief executive Manny Fontenla-Novoa, who quit two weeks ago following pressure from major shareholders.
However, a Thomas Cook spokeswoman dismissed the Sunday Times report as "mere speculation". She said the group remained committed to the High Street, despite the departure of Fontenla-Novoa.
She said Cook would not confirm the extent of shop closures until it had examined Co-op's data following the merger.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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