A Derbyshire based travel company has called in administrators and gone out of business after being hit by the downturn in the economy.
Winter Sunshine Holidays of Draycott, an internet company that specialised in booking overseas hotel rooms, had been in business for more than 20 years.
More than 1,000 holiday makers are thought to have current bookings with the company.
Bob Young a spokesman for administrator Begbies Traynor said people who booked by credit card would be assured a refunded. Additionally he said that company owner David Clifford had established a reserve trust fund which should cover other travellers who are out of pocket.
Mr Young explained that the company had been hit by a downturn in bookings, the collapse last year of XL and the refusal of a credit card company to continue processing payments.
The company had five staff left when it called in administrators although previously it had employed 12.