"This is not a choice we have made lightly but the reality is that we cannot foresee a future that would enable us to trade our way out of Covid uncertainties," said the firm in a statement posted on its website.
"With the ending of furlough, and the lack of any tailored industry support, we have faced the reality that the future remains bleak for specialist tour operators without reliable income."
Only one out of the 11 destinations Ethos operated to is currently open to UK travellers. "As we face the prospect of uncertain future border openings and confused messaging, we have to accept that fundamentally we are a business without business," the company added.
