Co-operative Group, Midlands Co-operative and Thomas Cook complete merger

Co-operative Group, Midlands Co-operative and Thomas Cook complete merger

Thomas Cook, Co-operative Group and Midlands Co-operative have announced they have formally completed the merger of their UK high street travel and foreign exchange businesses. 

The merger, originally announced on October 8th 2010, will create the UK’s largest multi-channel travel retailer.
Management positions at the new company were confirmed in September.

The deal is a rare piece of good news for Thomas Cook, which has been battered by falling demand and political unrest for most of 2011.
Last week the tour operator confirmed it would suspend dividends as it continued a fundamental review of its operations.

Thomas Cook is also looking for a new chief executive, following the shock resignation of Manny Fontenla-Novoa earlier this year.