Travel Weekly:
Goldtrail Holidays has gone into administration with an estimated 16,000 people overseas.
CAA head of Atol licensing Andy Cohen confirmed the Turkey specialist had failed at about 18.00hrs on Friday evening, but said the authority was still "in the dark on detail".
"It went into administration only an hour ago and I came straight back into work," he told Travel Weekly. "We are requesting information as we speak."
Cohen said the failure was not on the scale of XL Leisure Group which collapsed in September 2008 leaving 60,000 holidaymakers overseas.
"We will be able to deal with this one in-house," he confirmed.
Speculation had been rife for some time that Goldtrail could be experiencing difficulties, but even Cohen, who only this month
predicted a spate of failures this year, "particularly of operators to the Eastern Med", said the timing of company's demise had been "a shock for all of us".