Collapsed travel boss `responsible`

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About 40,000 holidaymakers - a quarter of whom had Christmas bookings - learned their plans were in ruins when the tour firm went into administration.

Joint administrator Paul Clark confirmed that full refunds would be issued from the two authorities the company was bonded under.

Managing Director Richard Ford said he held off putting the business into administration until he had paid all the staff their December wages.

Two years ago the company had £15 million in the bank. But a £6 million investment in a new building, the delay in moving and two cancelled cruises combined to harm the firm, he explained.

He said he took 'full responsibility' for the failure of the business, which is expected to cost 200 workers their jobs. Apologising to customers - especially those due to travel over the Christmas and New Year period - he said: "We did try to sort the problem out so they could travel, but it proved not to be possible." All customers would be reimbursed, Mr Ford said.

He said: "I am terribly sorry this had to happen, especially at Christmas time. It is my full responsibility and nobody else's." The company had been hit by problems in the past year, which had made it "very difficult to carry on".

Customers travelling by air will have their losses paid by the Civil Aviation Authority (CAA). Those journeying by other means will be able to apply to ABTA.

ABTA spokeswoman Frances Tuke said people who had bought Travelscope holidays via a travel agent were being offered alternatives. "For example, I know that the Co-op has rearranged for many of its customers to go on coach holidays today. They have acted very quickly. If people have booked holidays that are further on, it may well be easier to find alternatives than if they are going away this week."

ABTA said that future holidays booked through the Gloucester-based company have now been cancelled. More than 460 passengers who are currently on the cruise ship MV Van Gogh, which is due to arrive at Falmouth on January 4, will be free to finish their holiday uninterrupted.