Tokyo-based travel agency Tellmeclub filed for bankruptcy with the Tokyo District Court on Monday with liabilities estimated at ¥15.1 billion, including ¥9.9 billion relating to 36,000 travel contracts.

Tellmeclub is now set to be liquidated, with about 80 employees to eventually lose their jobs, company President Chikako Yamada told a news conference at the transport ministry in the morning.

The discount travel agency has joined the bankruptcy insurance fund of the Japan Association of Travel Agents, though it will cover only about ¥120 million in compensation with most of the ¥9.9 billion paid by customers unlikely to be refunded.