However, it is hoped the Cardiff-based brand can be saved and resurrected under new ownership. "We’d like to thank all of our wonderful customers, team members and suppliers for their support over nearly three decades," said the firm in a post on its website.

Abta acknowledged the failure on Monday (28 March) and said further advice would be available shortly.

Leisure Time (Wales) Limited said creditors would be contacted in due course. Suppliers are advised to direct enquiries to michael@doyledavies.com

"It is with great sadness that after 27 years, we have to announce that Leisure Time (Wales) Limited has ceased trading with immediate effect," said Leisuretime.

Its statement continued: "The impact of the pandemic restrictions was too much for the company to bear in the end as we have not been able to recover from all that has happened over the past two years.

"While Leisure Time (Wales) Limited has ceased trading, discussions are ongoing with regard to the future of the Leisuretime brand in south Wales, and we are hopeful that our story can continue under new ownership. More information will be posted here in the next few days."

Customers due a refund are advised to contact Abta for information and advice, while those who booked through a retail travel agent are advised to contact them in the first instance.