Travel giant Thomas Cook, which has its UK headquarters in Peterborough, is to close 50 high street shops, putting 400 jobs at risk, just weeks before Christmas.
The closures will affect Thomas Cook and Co-operative Travel branded stores and will take place between now and March 2018.
Thomas Cook said that the affected stores are either in close proximity to other outlets or are located where a decline in footfall has impacted profitability.
A rise in online travel bookings was also flagged as a reason for the closures, with the group saying that just 47% holidays were booked in store this year while online sales in the UK grew by 27%.
“We continually review our network of stores across the UK to make sure we’re offering customers the best of Thomas Cook, and it is clear that to succeed we have to operate as a truly omni-channel business.
"We’re one Thomas Cook to our customers and we will offer them a world-class service whichever channel they chose to book, be that retail or online.”
Thomas Cook employs 22,000 people worldwide and had sales of £7.8 billion in 2016.
Peterborough-based travel company Thomas Cook has cancelled all flights and holidays to Sharm el Sheikh until November 25.
Customers due to travel up to Thursday December 10 will be offered the chance to re-book their trips or cancel them.
Meanwhile two Thomas Cook flights will depart Sharm el Sheikh this evening, bringing holidaymakers back to the UK.
It has taken nine years but today the Chief Executive of Peterborough-based Thomas Cook finally said he was "deeply sorry" for the deaths of two British children killed by carbon monoxide poisoning while on holiday in Corfu.
Christi and Bobby Shepherd, who were 6 and 7, died at the Louis Corcyra Beach Hotel on the Greek island in 2006 while on a Thomas Cook holiday. An inquest ruled last week that the company had "breached its duty of care".
Now the company is trying to fight back from what has been widely considered to be a PR disaster.
Click below to watch a report from ITV News Anglia's Elodie Harper
The boss of Thomas Cook has said he is "deeply sorry" over the deaths of two young children killed by carbon monoxide poisoning in Corfu and apologised for the company's handling of the incident.
Peter Fankhauser, chief executive of the travel firm which has its UK base in Peterborough, pledged to apologise directly to the family of Bobby and Christi Shepherd, who died at the Louis Corcyra Beach Hotel on the Greek holiday island in 2006. The children were overcome by fumes from a faulty boiler.
Thomas Cook employs 1,000 people in the Peterborough area and is facing a public backlash over the way it has treated the family since the tragedy.
The boss of Thomas Cook said he is "deeply sorry" over the deaths of two British children killed by carbon monoxide poisoning in Corfu.Read the full story ›
The former managing director of Thomas Cook has criticised the company's handling of the deaths of two children in a hotel in Corfu.
John McEwan said the company "should have spent a great deal more time thinking about how they engage with the family" of Bobby and Christi Shepherd who were killed by carbon monoxide poisoning while on holiday in Corfu in 2006.
"Their first priority should have always have been the health and wealth of the family through the circumstances they were going through," he told ITV News.
Up to 360 jobs could be axed at Thomas Cook's head office in Peterborough.Read the full story ›
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.
Two of the 19 people killed when a hot-air balloon caught fire in Egypt were customers of Peterborough-based travel agent Thomas CookRead the full story ›
Thomas Cook pledged the company would turn a corner as the its turnaround plan pushed it to an "unacceptable" loss of £590 million.Read the full story ›