The CAA has confirmed 450 customers were abroad when The Holiday Place went under on Wednesday and there are 2,500 forward bookings.
It said return flight tickets for anyone who is abroad are still valid and people should check-in as normal.
The Holdiay Place, which traded under the name Cuba Holidays among others, ceased trading late on Wednesday afternoon.
The CAA has advised travel agents not to refund customers if they are still holding payments until they have received instructions from the Air Travel Trust.
Agents will be individually contacted by the CAA with specific instructions for these bookings.
Agents and Atol holders wishing to provide alternative holidays to customers of The Holiday Place and wish consumers to assign their claim to you, should email firstname.lastname@example.org
The CAA said it is working with accommodation providers to make sure affected customers can continue their holidays.
Customers are advised to keep receipts if they are asked to pay again for accommodation.
Those due to travel in the future must check if their flight ticket is still valid.
If customers choose not to travel, they can make a claim via the Atol scheme.
A spokesperson for the UK Civil Aviation Authority’s Atol financial protection scheme said: “We understand this will be concerning news for anyone who has booked to travel with the company.
“However, the Atol scheme exists for exactly this kind of situation and we are making immediate arrangements so all Atol protected customers may make a claim for their ATOL protected package via the Atol scheme.”
The Holiday Place also traded under the names of The fishing place, The scuba place, Cubaholidays.co.uk, Dubaiholidays.co.uk, Cuba Holidays, Holiday Place, Ocean Jewels, Holiday USA, Egypt Direct, Dubai Direct, Go Dominican Holidays, Just Caribbean, The Cuba Experience, The Cyprus Experience, The Kenya Experience and The Mexico Experience.
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