Specialist Leisure Group, owner of coach company Shearings, has collapsed in administration.
Travel agency Abta said more than 64,000 bookings were canceled and more than 2,500 jobs were lost.
It added that the vast majority were coach packages that were financially protected so that customers with these bookings receive a full refund.
John de Vial, Abta’s Director of Membership and Financial Services, said: “The Specialist Leisure Group included two of the UK’s best-known touring coach brands, Shearings and National Holidays, two well-loved holiday companies that have been offering holidays at home for many years and abroad to a very loyal group of customers.
“Today is a very sad day for these customers and the thousands of employees who will lose their jobs.
“The fact that two such well-known brands with a loyal customer base have had to engage administrators is a strong indication of the pressure the holiday industry is facing due to the coronavirus pandemic.
“Abta has repeatedly pointed out to the government the urgency of the situation and the need to work out a coordinated strategy with clearer communication if it is to help prevent significant job losses and help businesses weather the storm.”