• Sun. Jun 23rd, 2024

Van Hool Bus Company on Brink of Bankruptcy: Will a Guided Bankruptcy Process Save the Day?

BySamantha Johnson

Mar 27, 2024
Crisis Manager Working on Restarting Bus Builder Van Hool in Lier, No Bankruptcy Filing Expected Today

Van Hool, a Belgian bus manufacturer, is facing the possibility of bankruptcy after a dispute over shares among the Van Hool family. The company’s high debt burden and lack of fresh capital from investors or government entities have made it difficult to find a solution. Marc Zwaaneveld, crisis manager at Van Hool, has stated that he will continue to work in line with the transformation plan to avoid bankruptcy. Despite his efforts, bankruptcy seems inevitable as Van Hool’s debts amount to approximately 300 million.

Insolvency specialist Dominique De Marez believes that a transfer under judicial authority is the best option for Van Hool, as it allows for the sale of viable parts without the associated debts. Potential buyers, such as Guido Dumarey and VDL Bus & Coach, are in discussions with Zwaaneveld to acquire Van Hool and potentially save jobs. However, the financial situation of Van Hool remains dire.

The Flemish government supports this as the most realistic solution, which may involve a guided bankruptcy process. As the situation unfolds, it is clear that drastic measures will be needed to save the company and its employees. Zwaaneveld’s original transformation plan required 95 million euros of fresh capital, but the total amount needed may be higher. The government’s role in supporting a restart after a guided bankruptcy is crucial, as the future of Van Hool and its employees hangs in the balance.

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

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