Travel company TUI to shut 166 stores in UK and Ireland – ZAWYA

Travel company TUI to shut 166 stores in UK and Ireland – ZAWYA

Travel company TUI to shut 166 stores in UK and Ireland It would seek to move 70% of the 900 staff affected by the closures    LONDON - Travel company TUI said it will shut 166 stores in the UK and Ireland in response to the downturn in travel caused by the coronavirus pandemic, in a move which will lead to more losses in the battered sector.COVID-19 has wiped out holidays abroad for Europeans for months, and now the threat of a second wave of infections and new restrictions on travel during the usually lucrative summer season are causing more pain in a sector where balance sheets are already strained.TUI's UK unit was forced to cancel thousands of holidays earlier this week when Britain advised against travel to Spain, bringing back a 14-day quarantine rule for arrivals just weeks after saying travel there was safe. COVID-19 has wiped out holidays abroad for Europeans for months, and now the threat of a second wave of infections and new restrictions on travel during the usually lucrative summer season are causing more pain in a sector where balance sheets are already strained.LONDON - Travel company TUI said it will shut 166 stores in the