A statement released by the company said bosses at the agency had noted how other companies such as Iglu and On The Beach have enjoyed rapid expansion after outside investors had got involved.

It added that although it had been contacted by four different accountants about investment plans, nothing more than conversation had taken place.

The statement said: “At this stage there are no discussions with any potential investor therefore there is nothing to report.”

It added: “Barrhead Travel’s senior management have a proactive plan to bring the company into a long term sustainable position and should we find a suitable investor to work with we would be very careful to ensure we have picked a like-minded investor.

“Matters are still at an exploratory stage with no one appointed and no investor in mind.”

Meanwhile, the company added it has also been in discussion with an Australian business regarding a partnership as well as buying other Australian businesses.

“In an ever-changing world we need to continue to explore all options to maintain and develop the company,” the statement added.