Cadogan Travel has shut its business travel agency with the loss of two staff.
The Poole-based business employed a manager and one member of staff and organised trips for businesses in the local area. It ceased trading last week after about 20 years in business.
Managing director Stephen Rhodes, who is also overseeing a mangement restructure of the tour operation, said the business was a victim of the recession.
He said: "There was pressure on the business; it had lost bookings over the last few months. It was decided we would concentrate our efforts on our Cadogan Travel retail shop and our tour operation. It was very small and was not a part of the future strategy."
The business had a turnover of less than £1 million a year. The lease of its Poole offices is about to end.
Cadogan Travel, a sister division to tour operation Cadogan Holidays, also has a retail shop in London, which is still trading.
Rhodes, who joined in March, said the retail travel agency, which sells Cadogan and other tour operator product, was profitable. He did not rule out opening another retail shop in future.
He added: "I am looking at ways to grow that business and if there was a similar shop in a similar area that was making money and someone wanted to sell it, we would look at it."
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