Only days after requesting a deferment of payment, the court seals the fate of the Eindhoven tour operator, with far-reaching consequences for the travel industry and holidaymakers.
The East Brabant court declared the Eindhoven tour operator Vacansoleil bankrupt on Thursday, September 28. Just two days earlier, news broke that the company had filed for a moratorium, an ominous sign that has now reached its final outcome. With a legacy of past debt, Vacansoleil has embarked on a path that ultimately led to its financial ruin.
The bankruptcy comes as a blow to a company that was once considered a market leader in camping holidays on the European mainland. Founded in 1969, Vacansoleil had an annual flow of half a million holidaymakers and managed almost six hundred campsites. The shockwave will undoubtedly spread to these campsites and the local economies that benefited from them, in addition to creating a hole in the vacation plans of many families.
The tour operator, which became known for its camping holidays throughout Europe, employs 300 people.
Vacansoleil's inky financial situation was not only due to recent events, the company had been struggling with problems for some time. Before the outbreak of the corona pandemic, Vacansoleil was already experiencing declining profit margins and a reorganization had already been implemented. It seems the pandemic and the resulting decline in camping holiday sales were the final blow to an already faltering business.
Customers who have made deposits will now likely turn to the Travel Guarantee Fund Foundation (SGR) for compensation. The judge has appointed Ben Arends and Lodewijk Hox as curators, who indicate in a press release that there is great interest in a restart.
budget travelers
Vacansoleil is a Dutch tour operator specialized in offering camping holidays. The company was founded in 1969 and has its head office in Eindhoven on Marinus van Meelweg. Over the years, Vacansoleil has developed into one of the largest providers of camping holidays in Europe. The company offered holidays at a wide range of campsites across several European countries, from France and Spain to Italy and Croatia.
In the early years, the company mainly focused on offering affordable holidays for Dutch families. However, over the years it has significantly expanded its offering and reach. Before it ran into financial problems, the company even claimed to be the market leader in mainland Europe, with almost six hundred campsites in their portfolio. Every year, approximately half a million people book a holiday through Vacansoleil. In the past, Vacansoleil was the main sponsor of a Dutch cycling team for many years.
