A Bradford-born retail chief is at the centre of moves to create Britain’s biggest high street travel agency and currency exchange business.

Peter Marks, chief executive of the Co-operative Group, announced a merger which will involve more than 50 Co-operative Travel and Thomas Cook agency branches in Bradford and West Yorkshire. Thomas Cook’s Going Places shops will be re-branded Co-operative Travel.

Thomas Cook will have a 70 per cent stake in the merged business with the Co-op owning the rest.

The company will have 1,200 shops. It is likely to result in job losses as the firms will cut costs by £35 million a year through the headquarters and back-office functions.

Both companies said it was too early to say how many jobs will be lost among the workforce of 9,000.

There are 23 Co-op travel shops in West Yorkshire, including Bradford, Birk-enshaw, Saltaire, Shipley, Pudsey, Horsforth and Yeadon.

Thomas Cook has 30 branches including Brad-ford, Keighley, Ilkley, Cleckheaton and Batley. But the group also has major operations centres in Bradford and Birkenshaw employing 1,000 staff.

Thomas Cook and Co-operative Travel stores will continue to operate under the same brands, a move which should minimise store closures as the two will be able to operate in the same street, as in Bradford where they are both in Kirkgate.

Mr Marks said: “This is a marriage of two of the industry’s most trusted brands.

“It comes at a time when consumer confidence in the travel sector, like the economy, is in need of a boost. Through our new found scale we will secure a profitable and successful business together, which will be good for our people and our members. “This is really about job creation and protection, but yes of course, by combining the two head offices there will be some job losses. Our customers will also benefit as we work to ensure that the merger leads to enhanced value in the holidays that we offer.”

Thomas Cook group chief executive Manny Fontenla-Novoa said the deal was separate from the cost-cutting announcement by the group.

Thomas Cook is reviewing its UK workforce of 15,000 staff, as well as its supplier base, in a bid to cut costs.

Sharon Ainsworth, of Usdaw, the shop staff union, which has 1,000 members at the Co-op, said: “This will be a major change for our members but Usdaw is very positive about the venture and believe it will help secure the long-term future of the Co-operative’s travel businesses and maintain their presence on the high street.”