Vacansoleil has been declared bankrupt by the court in Den Bosch. This is reported by the Eindhoven travel organization. Last Tuesday, the company applied for a deferment of payment. According to Vacansoleil, employees are looking at solutions for customers who are currently on holiday or are still going on holiday.
“For most Vacansoleil customers, the bankruptcy means that they can claim compensation from the SGR (Stichting Garantiefonds Reisgelden),” the company said. This foundation reimburses customers of travel organizations in the event of bankruptcy.
The company employs approximately three hundred employees. It also has almost 1,300 seasonal workers who worked at the campsites between March and October.
Debt unsustainable
The travel organization previously announced that it was under heavy pressure in the past period. Vacansoleil had built up a large debt burden. After the outbreak of the corona pandemic, sales of camping holidays collapsed and the company needed additional financing. With the rise in interest rates and high inflation, the mountain of debt had become unsustainable.
Vacansoleil has tried to reduce debt, reduce costs and increase turnover, but without success. Negotiations with a possible buyer were also unsuccessful.
Possible restart
The has appointed two curators. They let us know that they are looking at a possible restart. “We notice that there is a lot of interest in the company and the market it serves,” reports curator Lodewijk Hox. “In addition to the attention for employees and customers, we focus our attention on a possible restart. Without forgetting the importance of the creditors, because they also deserve our attention.”
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