Thomas Cook slumped to a £590 million loss in its last financial year and is working on plans to slash costs.
As well as shutting stores, the UK's second-biggest travel company has trimmed its airline fleet and sold off hotels after it was forced to turn to its banks for an additional £200 million of loans in 2011.
More top news
Emily Middlemas has been kicked out in the X Factor semi-finals - leaving 5 After Midnight, Saara Aalto and Matt Terry through to the finals
Prince Harry has visited a children's home founded by the controversial religious sect known as the Moonies during his tour of the Caribbean
Cloud continues rolling in from the west overnight which, combined with fresher winds will keep temperatures above freezing here.