Plymouth-based long-haul specialist Real Traveller has collapsed.
The company, which held an ATOL, also sold round-the-world flights, gap year trips and business travel.
The Civil Aviation Authority said the company had just four passengers overseas and a total of 10 forward bookings. Its bond was £20,000.
A message on the CAA website said passengers with flight-inclusive bookings might be able to claim refunds.
It said those already holding tickets could continue with their trips but warned they may be asked to re-pay for some or all of the arrangements booked through Real Traveller, in which case they might be able to claim refunds for additional costs from the CAA.
Alternatively, they can choose not to travel and claim a refund under the company's ATOL.
By Linsey McNeill
