Thirty seven drivers and staff at a Devon coach tours firm have been made redundant after the company was put into voluntary liquidation.
Directors of Dawlish Coaches had "no other choice" in the face of financial problems, administrators said.
A number of tour operators had been affected, but the firm was trying to honour bookings.
Paignton-based Majestic Tours said it had transferred all bookings with Dawlish Coaches to other firms.
Ian Walker, of administrators Begbies Traynor, told BBC News: "Reluctantly the directors decided that they had no alternative but to put the company into voluntary liquidation.
"We are trying to see if anything can be salvaged from the business."