After a 25-year battle for the legacy of founder Bernard Van Hool, nothing remains of that entire legacy.
The bankruptcy of Van Hool NV, an established name in the Belgian bus and coach industry, and its umbrella holding company Immoroc, has also sent a shock wave through the local economy. The corporate court declared both entities bankrupt, causing the Lier region to face a significant economic impact. The bankruptcy not only puts direct employees on the street, but also threatens to cause a domino effect among numerous suppliers.
Wim Brillouet, a representative of VOKA Mechelen, says the alarm bell about the far-reaching consequences of this collapse. According to him, 41 suppliers have already indicated that the bankruptcy will hit their business operations and personnel hard. This development threatens an estimated 500 jobs, in addition to the layoffs already announced at Van Hool. This figure significantly increases the number of job seekers in the Mechelen district, with an increase of at least 15 percent expected. It is a throwback to the gloomy period of 2017, when unemployment rates last rose this high.
dislocated zone
In response to this crisis, VOKA has called for the extension of the 'disrupted zone' status until 2030 for the region, as well as the introduction of a 'disrupted zone Plus' around Lier. This would allow companies to pay less withholding tax for a period of four years, instead of the usual two years. These measures are intended to alleviate the financial suffering of affected companies and stabilize the region economically.
Although the trustees are reluctant to provide details about the bids received, it is common knowledge that potential acquirers, including VDL Groep and Schmitz Cargobull, have shown interest.
Van Hool's financial problems run deep, with a debt burden of approximately 400 million euros, about half of which is owed to banks. The Flemish government and the National Social Security Office (RSZ) also owe significant amounts, which increases the complexity of the bankruptcy settlement. There is some hope that bids from potential acquirers, including VDL and Schmitz Cargobull, can cover some of the debt, but the exact outcomes remain uncertain.
This debacle marks the end of a 25-year battle for the legacy of founder Bernard Van Hool, and it is now clear that nothing remains of that legacy. In addition to the job losses, the personal loss for the Van Hool family is also significant, as many of them relied on the company and its dividends for their income.
Still, there is a glimmer of hope for the workers who have lost their jobs. The VDAB will organize processes to get these employees back to work, while the new owners, expected to be VDL and Schmitz Cargobull, may retain hundreds of jobs in the region.
