Online Travel Agency Bookable Holidays has gone into administration, TTG has learned.

The company, which had been trading for 10 years and had 45 employees, went into administration today, with 960 forward bookings.

Managing director Jason Dwyer told TTG around half of its forward bookings had been passed on to Broadway Travel, having agreed to take on accommodation-only and auxiliary bookings.

The bookings must have balance outstanding from the customer that will cover the net cost of the remaining services.

He blamed “ever-increasing” burdensome legislation as well has legal pressures from no-win, no-fee lawyers for the company’s failure.

“Enough is enough. Should we all set up in another European country?”

In a statement Dwyer added: “After 10 years’ trading, Bookable Holidays has taken the difficult decision to close its doors. Having witnessed the dramatic change in the marketplace coupled with an ever-increasing burden of new, and often clouded and self defeating, government legislation. Enough is enough. Should we all set up in another European country?

“Of course Abta did its best to try and bring clarity to the outdated Package Travel Regulations by challenging the CAA’s interpretation of what was, or wasn’t, a ’ Package Holiday’, but even so, businesses who legitimately believed they were acting in the capacity of agent have been deemed by the courts to have sold a ‘Package Holiday’.

“This, coupled with three airline failures, the rise of the ‘no-win, no-fee’ lawyers ‘I think I was sick on holiday’, increasing Product Liability Insurance, and actually needing to sell a holiday with profit in it proved difficult.”

Dwyer added: “I apologise to all involved if this decision has caused any inconvenience but sadly we can do no more. We look forward to seeing you all soon with some exciting opportunities on the horizon.”