Specialist Leisure Group, owner of coach company Shearings, has collapsed into administration, putting around 2,400 jobs at risk.
More than 64,000 bookings have been cancelled as a result.
Travel trade association Abta said the coronavirus pandemic is the main reason for its failure as it battled with thousands of refunds and a stop to new bookings.
EY, the company’s administrator had tried to find a buyer to maintain the travel group as a going concern but it had not been possible.
The Wigan-based company, which also owned National Holidays, Wallace Arnold Travel and Bay Hotels, was founded in 1919 but