Bankruptcy of Vacansoleil - a leading organizer of camping holidays

Bankruptcy of Vacansoleil - a leading organizer of camping holidays – main image

The court announced the bankruptcy of the Dutch camping giant - Vacansoleil. Last Tuesday, the company submitted a request to defer payment. According to Vacansoleil, employees are looking for solutions for customers who are currently on vacation or who are yet to go on vacation.

Compensation for Vacansoleil customers

Most Vacansoleil customers can apply for compensation from SGR (Stichting Garantiefonds Reisgelden), a foundation that compensates customers of travel companies in the event of their bankruptcy.

Because the Polish branch of Vacansoleil Sp. z o. o. is not a travel agent or tour operator within the meaning of the Act on Tourist Events and Related Tourist Services of November 24, 2017, then customers will most likely not receive support from the Tourist Guarantee Fund. However, they first suggest contacting a travel agency to obtain additional information.

Employee situation

The company employs approximately three hundred permanent employees. In addition, it uses the services of nearly 1,300 seasonal workers who work at the campsites from March to October. It is currently unclear what the further consequences will be for staff.

The company's financial problems

Vacansoleil had been experiencing financial difficulties for a long time, accumulating large debts. During the coronavirus pandemic, sales of camping holidays dropped dramatically, forcing the company to seek additional financing. With rising interest rates and high inflation, debt has become unsustainable. Despite attempts to reduce debt, cut costs and increase sales, the company was not successful. Negotiations with a potential buyer also ended in failure.

Possibility to restart your business

Two receivers have been appointed to analyze the possibility of restarting the business. "We notice great interest in our company and the market in which we operate," says the trustee of Lodewijk Hox. "In addition to caring for employees and customers, we focus on the possibility of reactivation. Without forgetting the interests of creditors, who also deserve our attention."

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