Beleaguered travel company MyTravel could pull rebranding plans for its Going Places retail chain if consumer confidence in the company begins to plummet.
MyTravel Group, formerly Airtours Group, is trying to shore-up its reputation with the City following a dramatic slide in share value after it issued two profit warnings and revelations came to light about accounting mismanagement.
The group aimed to rebrand its distribution channels, including retail brands Going Places, Travel World and Holidayworld, as MyTravel by Christmas this year. Airtours remains as the name for the company’s tour operations.
However, the continuing negative publicity being given to the MyTravel name could prompt a rethink. So far ten out of 700 stores have been rebranded or opened under the MyTravel banner, with Lakeside Thurrock’s MyTravel MegaStore the latest addition to the chain.
Chief executive of global development Richard Carrick says that delaying the rebranding plan “is an option”.
He adds that there are no plans for a reassurance advertising campaign as yet and that would only occur “if MyTravel felt there was an issue surrounding consumer confidence.”
Industry insiders say that the crunch date for MyTravel will be November 16. The company claims it has sold 200,000 holidays on the back of a deposit-free promotion, but holidaymakers can cancel without penalty up until the November 15.
MyTravel is currently in a closed period awaiting the announcement of results on November 26.