The Travel Network Group is expected to close one of its owned travel agencies and reduce working hours at the others as it cuts costs to cope with the impact of the coronavirus.

The travel agency consortium, that comprises more than 1,050 branches between its members, owns eight stores of its own.

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Hours are likely to be reduced at all of its owned stores by around 20%, with opening hours soon to be finalised in an ongoing review. Agents’ salaries will be reduced in line with working hours.

Fifteen roles at the consortium’s Woking head office have already been placed at risk of redundancy and a recruitment freeze has been implemented.

Chief executive Gary Lewis last week urged all travel companies to ‘plan to survive’ in the “brutal” situation caused by the travel restrictions imposed as a result of the coronavirus pandemic.

He said: “As we announced earlier this week we have 15 roles that are at risk of redundancy at our Woking head office, and we are looking at other areas of our business to make necessary cost savings at this time.

“We are currently considering how our eight owned-shops will operate over the coming period, and specifically looking at the viability of our Sheffield store and its three employees. It’s a really tough time at the moment as everyone knows, and we are working hard to save costs and at the same time look after our people.”