Wolves owners Fosun are facing losses of more than £1billion following the collapse of Thomas Cook.

The Daily Mail says the Chinese conglomerate are seeking fresh investment in the Premier League club.

Fosun International were the biggest single shareholder, owning 18 per cent of the travel operator that went bust on Monday.

Wolves insisted on Tuesday that Fosun's losses would have no impact on the running of the club, who have thrived since the Chinese company, under the chairmanship of Guo Guangchang, bought Wolves three years ago.

Hwever, Fosun are looking for investment in Wolves and are willing to sell up to 20 per cent of the club.