Bus manufacturer Van Hool heading for bankruptcy with possible relaunch
The ailing bus manufacturer Van Hool is heading for bankruptcy with a possible relaunch afterwards, the company told the special works council on Monday.
In this scenario, a previously announced rescue plan would not be implemented. In an announcement read out at a press conference, the company referred to an inheritance dispute between the shareholders and the Van Hool family.
"We have to conclude that the implementation of the recovery plan is unfortunately no longer possible"
A deadline to resolve the dispute was set for Monday afternoon, but was not met. "In this situation, we have to conclude that the implementation of the recovery plan is unfortunately no longer possible," said spokesperson Dirk Snauwaert.
Meanwhile, Van Hool confirmed that it was working on a "parallel approach" in which a potential buyer would relaunch the company. "This is only possible in a bankruptcy scenario," said crisis manager Marc Zwaaneveld.
"We will do our best to keep as many operations and employees as possible, but it is ultimately up to the potential buyer to decide"
"There are currently three candidates, all European. Of course, they all have their own plans for the company. We will do our best to keep as many operations and employees as possible, but it is ultimately up to the potential buyer to decide," said Zwaaneveld.
The company said it would work "until the last breath" to find such a solution. The expected bankruptcy in this scenario would follow "shortly after 31 March", according to Zwaaneveld. The company also urged staff to continue working in the interests of a possible takeover.
#FlandersNewsService | Crisis manager Marc Zwaaneveld during a press conference at bus manufacturer Van Hool in Lier, 25 March 2024 © BELGA PHOTO JONAS ROOSENS
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