Beleaguered travel firm Thomas Cook racked up £300m (€375m) of losses today after admitting that its brand was hit by its near-collapse last year.

The prospect of a refinancing deal between lenders and ailing Thomas Cook caused a sharp jump in shares of the tour operator today.

British travel agent Thomas Cook today said it will close 200 stores over the next two years as it battles to turn around its ailing UK business.

Plans to shake-up struggling UK tour operator Thomas Cook are set to include the closure of about 200 travel agencies, it was reported today.

Thomas Cook’s chief executive has resigned following a disastrous year for the holiday giant.