Wolves' owners are facing losses of more than £1billion following the collapse of Thomas Cook and are seeking fresh investment.

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

Sources with knowledge of the company told Sportsmail their stake had at one stage been valued at more than £1bn after they began buying shares in 2015.

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

Shares in Thomas Cook collapsed from a peak of £1.50 in May 2018 to a few pence

Shares in Thomas Cook collapsed from a peak of £1.50 in May 2018 to a few pence before the holiday company was declared bankrupt with debts of £1.7bn.

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.

Sportsmail revealed earlier this month, however, that Fosun are looking for investment in Wolves and are willing to sell up to 20 per cent of the club.

Fosun are well placed to cope with Thomas Cook's demise, with Guangchang estimated to have a fortune of more than £5bn.

Fosun value Wolves at £350million, a huge increase on the £45m they paid to take sole control when they were in the Championship three years ago.

Wolves insisted that Fosun's losses would have no impact on the running of the club

A Fosun statement said: 'As at June 30, 2019, the group held approximately 18.6 per cent equity interests in Thomas Cook and the carrying amount was approximately £37.6m.

'Therefore, the application for compulsory liquidation of Thomas Cook has limited financial impact to the group. The group has not acquired any further interest in Thomas Cook after June 30, 2019.

'The company would like to clarify that the group has never provided any guarantee to Thomas Cook and has not made any investment in relation to the possible recapitalization of Thomas Cook.

Fosun had tried to put together a rescue package for Thomas Cook, which if accepted would have increased the Chinese firm's losses. They agreed to inject an additional £450m last month but withdrew as Thomas Cook's debts mounted.

Wolves have been transformed under Fosun's ownership and a close relationship with super-agent Jorge Mendes, going from a club struggling in the Championship to one that has genuine aspirations to reach the Champions League.

Under the management of Nuno Espirito Santo Wolves have won the Championship, reached the FA Cup semi-finals and finished seventh in the Premier League last season, their best league position since 1980.