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Thomas Cook has announced that hundreds of jobs could go at its Peterborough headquarters and that it's to close nearly 200 high street stores.
It follows a bad few months for some of our best known retailers. Since November Comet, HMV - and now the bed company Dreams - have all gone under. Elodie Harper reports.
A travel union has said it is "shocked and angry" at the scale of jobs losses announced by Thomas Cook today.
Manuel Cortes, leader of the TSSA travel union, said Thomas Cook was now "engaged in a race to the bottom of the travel market".
He added: "This constant policy of slash and burn, with the axing of 1 in 4 stores and the loss of 1,000 jobs, is simply self defeating.
"The company needs new products if it to come to come to terms with the age of the internet and prosper in the 21st century.
"That is the only way to stop this spiral of decline which repeated bad management decisions over the past five years has led them."
Holiday firm Thomas Cook, which is based in Peterborough, today announced plans to axe 2,500 UK jobs and warned of some store closures under a group-wide restructure.