Holidaymakers who had booked trips with stricken Black Country travel firm Hoverland will not lose a penny of their money, the firm’s director said today.

Steve Gouldby described the decision to call in the administrators at the Walsall company he started nearly three decades ago as “heartbreaking.”

But the 58-year-old promised all customers who have had their travel plans scuppered are guaranteed a full refund.

“Everybody who has paid money is going to be getting it back,” said Mr Gouldby. All the money is in a trust account.”

Mr Gouldby, who set up Hoverland European Coach Holidays in 1979 before it became a limited company in 1983, insisted he had made the right decision.