Phoenix Holidays Ltd has gone into administration, leaving fifty four employees redundant.
The coach holiday provider, which is based in Gloucester and runs trips in the UK and abroad, employed 23 people at its headquarters in Quedgeley and another 31 in France.
Administrators PR Booth and Co were called in yesterday after an announcement was made to staff.
They said that a “significant drop” in bookings in the fourth quarter of last year led to the business folding and they would now identify the best way of going forward.Some employees had been made redundant before their appointment, they said.
In 2008 the company, then known as Travelscope, almost collapsed after running into financial difficulties but was rescued by managers who formed Phoenix Holidays Ltd.
A total of 250 people lost their jobs and 12,000 holidays had to be cancelled.
Phoenix Holidays Ltd is owned by the Take Me Too Group, who said they were helping the firm to go through the process.
The company’s website says that money from clients is held in a separate account so should be safe in the event of financial collapse.
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