Tour operator Tucan Travel has collapsed into administration due to the coronavirus pandemic.
The west London-based firm, which specialised in trips to South America, said in a statement the crisis has had a “severe impact” on the travel industry.
It suspended its holidays in March 2020 due to the outbreak of the virus, but continued to sell trips for 2021 and beyond.
The 33-year-old company has ceased trading with immediate effect and told customers with existing bookings they will be contacted with details of how they can “make a claim for any monies they have paid”.
The statement claimed there has been “no satisfactory solution” for coping with the number of customers demanding full refunds for cancellations.
It went on: “No-one could have predicted that in January 2021, most countries in the world would be in further tough lockdowns with many people losing their lives and loved ones.
“There is unlikely to be any normal international leisure travel until 2022 and so with a heavy heart, the decision was taken in the best interests of everyone concerned to place the company into administration.”
The firm said all staff will be made redundant as a result of its collapse.
Trade organisation Abta said in October 2020 that at least 20 travel companies with UK operations had gone bust since March of that year.
These include STA Travel, Specialist Leisure Group – which ran brands such as coach operator Shearings – and Cruise & Maritime Voyages.
Abta chief executive Mark Tanzer warned that more firms could fail as he accused the Government of failing to provide “basic tools” to help consumer confidence.