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This company has never recovered from the incompetent leadership under Manny and his cronies many are still embedded in the organisation or have left the company but still supply Cook with Aircraft capacity and Accommodation and benefit themselves at the detriment of the company financially the current CEO should undertake a forensicexamination of the companies dealings.The appointment of Harriet Green was for the City she had no clue about the core Business and again they played with the numbers to create SH Value(now declining to the toilet) obtained a handsome bonus and left and the core Business remains as today requiring Intensive care.The organisation needs radical reform and a re focused external Management Team they simply play with the numbers as their Turn over is impressive ....£250m profit is easy to adopt as a headline EBITDA but in effect this is a total fallacy once you look at their debt and other exceptional items that continue to pop out of the woodwork - i assume 20 m £ real PBT is near to mark or maybe less and is why they in effect do not have the cash to pay any dividends to the hard pushed SHsThey need a big investor and quickly plus a new and invigorated Management Teamclean of the old Manny cronies that are being used inside and outside of the Group.
Peter Long is available now his be ousted from the Post Office i would start with him andwork downwards so the Business becomes fit for purpose and get on a fast boat to China to see FOSUN with a new Business plan and a New Management Team
They need to stop being so fixated on their Retail network. There is a place for Retail, but it should be a supplement to their digital side, not the "Jewel in the TC Crown' that they always portray the Retail network as. Until they install a board that doesn't get a collective hardon when looking at how many shops they have, they're never going to evolve into a modern business.
Over 600 shops have closed in the last 5 years - I don't think this points to them being fixated on retail they are fixated on online growth with a shop network to supplement this which will get gradually smaller as the online business grows.
Exactly why did Manny do the deal with that fool Mike Greenacrefrom coop who was so virtuous yet stitched Cook up with hundreds of high street retail know one wants anymore and in main have been closed...Nice deal for coop and Greenacres pension pot i think.. Mr H Perry made millions out of cook with his online Beds4u proposition and took every ones under ware down with his bonuses and earn outs that were more fiction than the BEANOAs i said a forensic top to bottom analysis should be done and maybe get some money back from these sour and poor deals that Cook did Manny/H Perry and Coop must of made best part of £80 m from the company and Harriet another £10 m ..Go get it back... Just claim .Fraudulent misrepresentation as this backed by a heavy weight lawyer will shake the Trees and normally does the trick to get some money coughed up.Then employ Peter Long and let him kick the Business into shape as he did with TUI and prior First ChoiceA v cleaver guy who told Cook and Manny where to go whenthey tried to merge with First Choice and then did deal with TUI Long with a strong Team can turn this basket case around
Switch sell to Jet2 Holidays or Tui who also don't have price parity ?
If the customer service is good there should be no need to discount therefore have no need to switch sell to a different operator. There's a difference between an online price and adding a service charge. Maybe I'm wrong but thats the way I look at it ...