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Thomas Cook to axe 2,500 jobs
Another large retailer in St Albans may have to close stores after falling into financial difficulties.
Holiday giant Thomas Cook, which has a store in St Albans, announced on Wednesday it is considering cutting 2,500 jobs and closing 195 stores.
The firm is now on a 90-day consultation process where it will consider a range of options including making cuts to staff at head offices in Peterborough and Preston and closing an office in Accrington all together.
Peter Fankhauser, Thomas Cook UK & Ireland’s CEO, said: "It is never easy to make decisions that impact directly on our people.
"It is essential that we operate with the right number of people as we move forward into the next era for our company, allowing us to meet the future needs of our customers more effectively."
Thomas Cook is the latest retailer to hit trouble in recent months after phoptography chain Jessops, HMV and Blockbusters all announced they were closing stores in the area.