GVI said all current and future programmes have been cancelled, with staff on the ground supporting participants as they make arrangements to depart GVI bases.
Participants with upcoming bookings will receive formal correspondence outlining the liquidation process and how to lodge claims, while suppliers and partners will also be contacted by the appointed liquidators.
Founded in 1998, GVI has spent the past 28 years supporting wildlife and marine conservation projects, community development initiatives and education programmes while building a global network of volunteers and partners.
Chief executive officer Andrew Valentine said the organisation's closure marked the end of a remarkable journey.
"This is a deeply sad conclusion to a remarkable journey, but as we navigate this final chapter, we look back with immense pride and gratitude for everything we achieved together."
Valentine said the organisation hoped the conservation and community initiatives it had supported would continue beyond GVI's closure.
"GVI may be coming to an end, but the impact we have built together on the ground is too important to let go."
Valentine acknowledged the impact the closure would have on staff, projects and customers, saying the organisation was committed to providing clear information throughout the liquidation process.
"I deeply regret the effect that GVI's closure will have on staff, projects and customers, and we are committed to providing clear information to those affected as GVI goes through a formal liquidation process."
He thanked participants, staff, local communities and partners for supporting the organisation over the past 28 years.
"Thank you for your passion, your hard work, your grit, and your unwavering belief in a better world. It has been the privilege of a lifetime to journey with you."
The closure has also affected participants and conservation partners. According to The Guardian, some UK students have lost thousands of pounds paid for volunteer placements, while conservation organisations that relied on GVI have reported unpaid fees and uncertainty over future funding.
