The site, which worked with the likes of Hix Townhouse, Chewton Glen and Clivedon House, charged commission for all bookings made through its platform.
Chic Retreats employed 23 people at its peak, though all staff have now been made redundant.
Andrew Stephen McGill and Adam Henry Stephens of Smith & Williamson were appointed joint administrators to parent company Chic Lifestyle Limited after it entered administration on 26 July.
The site will continue to operate with a "small team" while a buyer is sought for the business.
“The next round of funding could not be completed and so the company needed to explore alternative options which culminated in the directors taking steps to place the company into administration,” says McGill.
“We have engaged a small team to maintain the platform and allow the business to continue operating whilst we seek interested parties to acquire the business & assets of the Company.”