London-based tour operator Wadebay, which traded as New Horizons and Directours, has gone out of business.

The company, based in Palmers Green, north London, resigned from ABTA on August 12 shortly after registering 676 other trading names.

The CAA confirmed yesterday that it has ceased trading after being unable to meet its liabilities.

Wadebay specialised in holidays to Benidorm.

The CAA will handle ATOL claims while ABTA will handle other claims but only for bookings made before it resigned from the association.

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