Administrators for Flybe have been unable to find a buyer for the collapsed airline.
Interpath said it will begin “winding down the business” and “identifying options” for the sale of “rights, interests and assets”.
Interpath said in a statement: “Discussions with parties regarding a sale of the business have now concluded.
“Despite significant interest from a number of credible parties, it has not been possible to develop a transaction in the available timeframe and, as such, the joint administrators will now commence the process of winding-down the business and identifying options in relation to the sale of specific rights, interests and assets.
“As a result, a further 25 employees have been made redundant with immediate effect.”
Regional carrier Flybe fell into bankruptcy for the second time in three years on January 28, with all flights grounded.
There was speculation that airline groups Lufthansa and Air France-KLM were in talks with the administrators to buy the airline, which held lucrative take-off and landing slots at Heathrow Airport.
