The call centre and homeworking company was set up in April 2008 by David Hawke and Julie Gilmore. Hawke come from Hays Travel and was previously head of direct sales for Thomson Holidays.

At least 100 people are employed by the company, which is a member of the Freedom Travel Group.

Jane Atkins, managing director of the Freedom Travel Group, said: "We are very disappointed and saddened that Monster Travel are no longer in a position to trade, but we will take on all forward bookings, ensuring that customers travel as planned and that trade suppliers are paid."