A total of 40 staff at Holiday Options have been made redundant following the collapse of the specialist tour operator yesterday.
The administrators Begbies Traynor said a couple of staff had been kept on for a short period to assist in winding up the company.
Begbies Traynor administrator Kirstie Provan said: “The operator collapsed because of financial pressures brought on by the current economic conditions, as well as the decline of the pound against the euro and a general decline in trade.”
There are 30 customers currently abroad in Cape Verde, ABTA confirmed, who will continue their holiday as planned. A further 1,100 passengers have forward bookings mainly for destinations in Croatia and Montenegro.
All current passengers have had their bookings transferred to Light Blue Travel, who will write to agents and direct customers in the next few days.
The Burgess Hill-based operator also traded as Air Travel Options and Hidden Croatia.