Shearings Holidays parent company Specialist Leisure Group has entered administration.
The group had more than 64,000 holiday bookings, the majority of which were coach package holidays.
The Group has said that all package holiday bookings are financially protected so customers with these bookings will receive a full refund.
Two of the group companies, Shearings and Wallace Arnold, were members of Abta, while National Holidays and UK Breakaways were members of the Confederation of Passenger Transport.
Shearings had been providing holidays to the UK public for more than 100 years with its roots traced back to 1903.
John de Vial Abta Director of Membership and Financial Services, said: “The Specialist Leisure Group included two of the UK’s best known coach holiday brands, Shearings and National Holidays, two much loved holiday companies who for many years have provided holidays both at home and overseas to a very loyal group of customers.
“Today is a very sad day for these customers and the thousands of staff who will have lost their jobs.
“The fact that two such well-known brands with a loyal customer base have had to call in administrators is a stark indication of the pressure that the holiday industry is under as a result of the coronavirus pandemic.
“Abta has repeatedly highlighted to the government the urgency of the situation and the need to set out a coordinated strategy with clearer communication if it wants to help avoid significant job losses and support companies to weather the storm.”