Luxtripper on Thursday (19 October) said it had paused operations while it sought to raise sufficient funds to continue trading and resume operating.

However, the CAA on Friday (20 October) confirmed the brand had now ceased trading as an Atol holder (Atol 11506).

The London-based firm traded under Luxtripper and Luxtripper Limited, and via www.luxtripper.co.uk.

The CAA said it was collating information from the company and would provide a further update "as soon as possible".

Luxtripper was founded in 2015 by Nena Chaletzos. The brand on Thursday said it had engaged restructuring specialist ReSolve Advisory to explore options for "emergency rescue capital" via a sale, accelerated merger or acquisition.

Potential investors or buyers have been asked to submit offers by Monday (23 October) with a view to completing a deal by Friday (27 October).

TTG has approached Luxtripper and ReSolve Advisory for further information.