iscoverFlight Centre Travel Group announced on Monday it will close 428 Australian stores by the end of July, or roughly 40 per cent of its network.
The business will also now shut 30 per cent of its leisure outlet shops across multiple brands at home, and 35 per cent worldwide.
Flight Centre has blamed the “heightened uncertainty” around coronavirus for the decision to permanently close 100 stores, roughly 11 per cent of its total.
Flight Centre revealed its half-year profits after tax plunged 74 per cent on Thursday, from $62 million to just $22 million.
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