The majority of jobs are being lost at the firm's office in Gosforth
A Newcastle holiday firm is to close down with the loss of 108 jobs.
Martin Jones, founder of Freedomdirect, said the company encountered problems when it moved to the Air Travel Organisers' Licensing (Atol) scheme.
Speaking on BBC Newcastle, Mr Jones admitted the firm could "possibly have done things differently historically".
Most of the jobs are being lost at the company's Gosforth office, though the firm also employs staff across the UK, in Poland and France.
Anyone concerned about holidays booked through the firm can contact the Civil Aviation Authority (CAA) or the Association of British Travel Agents (Abta).