Van Hool crisis manager working to prevent bankruptcy and restart bus builder in Lier

As the deadline for Van Hool’s financial crisis looms, Marc Zwaaneveld, the company’s crisis manager, has stated that he will continue to work in line with the transformation plan, regardless of its form. This means that Zwaaneveld will not be going to court today to submit the company’s books, which could have resulted in a declaration of bankruptcy. The financial situation at Van Hool remains dire, with debts totaling around 300 million to banks and the NSSO.

Despite Zwaaneveld’s efforts, bankruptcy seems inevitable due to Van Hool’s high debt burden. The company is in need of fresh capital to avoid this outcome, but finding investors willing to provide the necessary funds has proven challenging. Additionally, a family dispute within the Van Hool family over shares further complicates the situation. With no resolution in sight by 12 o’clock today, Van Hool’s board of directors will consider their next move on Monday.

Zwaaneveld is already preparing for a plan B, which involves trying to sell Van Hool without its existing debts. Insolvency specialist Dominique De Marez believes that a transfer under judicial authority is the most likely outcome for Van Hool. This process would involve selling the viable parts of the company without its associated debts and granting protection from creditors for a period of time. Zwaaneveld is actively engaging with potential buyers, including West Flemish entrepreneur Guido Dumarey and Dutch bus builder VDL Bus & Coach.

The decision to pursue a guided bankruptcy may result in reduced severance payments for employees and financial losses for various stakeholders. However, it may also provide an opportunity for Van Hool to restart as a new entity with fresh capital and lower debt levels. As the fate of Van Hool hangs in the balance, it is important for all parties involved to consider their best interests and take action accordingly.

Ultimately, it will be up to the board of directors and Marc Zwaaneveld to guide Van Hool through this difficult time and find a solution that ensures both financial stability and job security for its employees

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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