A second UK travel company collapsed over the weekend leaving travellers stranded abroad and up to 4,000 forward bookings.

Allbury Travel, owner of Greek specialist operators Libra Holidays, Argo Holidays and Jetlife, went into administration on Saturday (December 19).

The company operated package holidays and flights from a number of UK airports to Greece, Cyprus and Egypt and sold mainly through the trade.

Its collapse follows that of Globespan last week, leaving 3,400 flight-only passengers stranded and a further 1,100 on package holidays with the company.

In a strange twist, Allbury Travel Group was owned by British Virgin Islands-based Allbury Ltd, which is controlled by Elias Elia, chief executive of credit card payment processing company E-Clear.

E-Clear has been cited as one of the key reasons for the collapse of Globespan as it withheld £36m of cash to the Scotland-based group.

The money included £20m from passengers who had already travelled and about £16m from customers who were yet to go on holiday.

The collapse of Allbury leaves fewer than 100 passengers stranded abroad, but the Civil Aviation Authority said it was making arrangements for holidaymakers to complete their holidays and return to the UK.

It also said it hoped to fully refund those with forward bookings.

All future Allbury Travel Group holidays have been cancelled and travellers have been advised not go to their departure airport.