In the longer term, it could also hit the tourism sectors in the company's biggest destinations, such as Spain and Turkey, leave fuel suppliers out of pocket and force the closure of its hundreds of travel agents across British high streets. Thomas Cook has been brought low by a 1.7 billion pound ($2.1 billion) debt pile, online competition, a changing travel market and geopolitical events that can upend its summer season. Last year's European heatwave also hit the company hard as customers put off last-minute bookings. The group had seemed set for a rescue when it agreed the key terms of a 900 million pound recapitalization plan in a deal with its biggest shareholder, China's Fosun (1992.HK), and the travel firm's banks in August. But in finalizing the terms of the deal, the company was hit with a demand for another facility of 200 million pounds in underwritten funds by its banks.