The coach tour operator said the decision owed to the “severe impact” of the Covid-19 pandemic, strategic changes in key partner arrangements and a challenging trading environment marked by significantly rising costs. 

Gold Crest added that it was “deeply saddened” by the closure and thanked customers, travel agents, suppliers and staff for their long-standing support and "wonderful memories". The company, which was based in Ilkley, Yorkshire, ceased trading on Friday (23 January).

Abta has confirmed it is treating Gold Crest Holidays, which also traded as Advent, Advent Tours and Overseas Dream Weddings, as a “financial failure”.

All future Gold Crest package holidays have been cancelled, although Abta has advised customers holding tickets for certain events should contact the event organisers directly as they may still be able to use them. They will, however, have to make alternative travel and accommodation arrangements.

Customers who booked through a travel agent have been advised to contact their agent in the first instance. Abta said it will provide support to affected customers and manage the claims process.