Discussions at bus manufacturer Van Hool are heading towards bankruptcy with a possible restart. This was announced this afternoon at the special works council. The announced recovery plan will not be realized in that scenario.
A few weeks ago, Van Hool announced a major restructuring that would cost approximately 1,100 people their jobs. During the press conference, Van Hool spokesperson Dirk Snauwaert emphasized that the inheritance dispute between the shareholders and the Van Hool family has not been resolved. Therefore, implementation of the recovery plan is not possible.
Restart by acquirer
The bus manufacturer is now working on a “parallel approach” with a restart of the company by a potential acquirer. “That is only possible in a bankruptcy scenario,” says crisis manager Marc Zwaaneveld. “There are currently three candidates for this, all European. Of course, they all have their own plans for the company. We will do our best to retain as many activities and staff as possible, but it is ultimately up to the potential acquirer to decide,” it said.
Snauwaert further said that Van Hool will continue to work on a solution “until the last breath”. “We are convinced that it is still feasible, but we need the support of everyone involved.”
According to Zwaaneveld, the expected bankruptcy would follow “soon after March 31”. The company also calls on employees to continue working in the interest of a possible takeover.
“Uncertainty weighs heavily”
The major banks previously indicated that they are not prepared to intervene to finance the company. Earlier in the day, the unions handed out leaflets to the staff present to express their support. The unions regret the continued uncertainty. “It weighs unseen and painful,” he said.
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