For a while there, it looked like the uniquely Australian travel company Flight Centre could have gone under, following the majority of the airline industry around the world.

One of the world’s biggest travel companies, Flight Centre was never a candidate for a government bailout so it was up to the board and management team to drive through ruthless cuts and then ink a $700 million company saving equity raising which was announced yesterday morning.

For anyone who likes travelling or has utilised Flight Centre’s services over the years, the company's presentation on the raising makes for very interesting reading. Has any retail outlet ever attempted to close 426 stores in Australia?