As earlier reported by SCN, the first cruises of the New Year due to be undertaken by Voyages of Discovery's Voyager and Swan Hellenic's Minerva were cancelled.
Both Voyages of Discovery and Swan Hellenic are part of the All Leisure Holidays which has stopped trading with immediate effect, with approximately 7,000 bookings for future holidays.
All future bookings with the company have been cancelled but as All Leisure was part of the CAA's ATOL scheme, customers with ATOL protected holiday bookings will be able to claim a full refund for their trip.
Approximately 400 customers are currently overseas, but the vast majority of these will be able to use the scheduled airline tickets included as part of their booking to return to the UK shortly.
The CAA has made arrangements to bring the small number of remaining passengers back to the UK at no extra cost.
Cruise holidays involving flights must be ATOL protected, when sold in the UK. Cruise trips not involving flights are not protected by ATOL, but may be protected by ABTA.
Talking about the collapse of All Leisure, Andy Cohen, head of ATOL at the CAA, said: 'The ATOL scheme exists for exactly this kind of situation and we are making immediate arrangements so all ATOL protected customers can claim full refunds as quickly as possible.
'We are also arranging for people currently overseas to get back home to the UK at no extra cost - meaning no-one will be left stranded abroad.'
Another member of the All Leisure Holidays Group, Page and Moy Travel Group Holidays Ltd (trading as Just You and Travelsphere) has also ceased trading, but all bookings have been transferred to G Adventures (UK) Ltd.