Oundle Travel director Paula Cockcroft said the company has faced "unforeseen circumstances" when its landlords reneged on a newly agreed lease "without prior warning".

"They proposed a 45% increase in our annual rent which was dishonourable and unacceptable," she said in a statement posted to the firm’s website.

"I have taken the decision to close Oundle Travel with immediate effect. I would like to take this opportunity to extend my sincere thanks to everyone who has loyally supported my business over the years.

"After a career of 41 years in the industry, I have decided to take this opportunity to retire."

Oundle Travel will continue to deal with existing bookings. The firm’s clients who prefer to work with an agent will be referred to an ex-colleague of Cockcroft. 

Abta said: "We are sorry to inform you that Oundle Travel Ltd has ceased trading with effect from 8 November 2022.

"If you booked a package holiday through Oundle Travel Ltd and the holiday is provided by another tour operator, you will need to contact the tour operator named on your paperwork or Atol Certificate for a flight-inclusive package."