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Travel agency closures: decision next month

There's no immediate word on whether the Thomas Cook travel agency in Strand Street, Douglas will be affected by possible closures within the company.

Shares in Europe's second largest travel agency have plummeted more than 75 per cent, after it announced it was in talks with its bankers about borrowing another £100 million.

At present customers are being told it's business as usual, but the company is £900 million in debt and is reportedly planning to close 200 of its 1,200 high street travel agencies and bureaux de change.

A spokesman at Thomas Cook's London media office told Manx Radio talks with 17 banks were ongoing and it was hoped an announcement on any possible closures would be made this side of Christmas.

Freedom Travel, also in Strand Street, is part of the Co-operative Travel Group, which has merged with Thomas Cook.

However, Freedom Travel in Douglas is not expecting to be affected by the Thomas Cook situation.

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