Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Dutch travel agency D-reizen has reopened 150 of its 285 offices in its restart plan after being declared bankrupt in April 2021. The restart means that 450 of 1,100 employees will keep their jobs.
The company's bankruptcy is largely due to the travel restrictions of COVID-19 pandemic, which caused severe losses for the company. Several travel companies were interested in taking over part of the company, thus making a partial restart of the company possible. Although the restart plan was delayed by a dispute about the trademark rights of D-reizen, it eventually saved about 450 jobs.
The 150 offices will become part of Prijsvrij Vakanties, but will continue to work under the D-reizen label. Prijsvrij Vakanties is a Dutch travel agency that is part of the German REWE Group.
Eurofound (2021), D-Reizen, Bankruptcy in Netherlands, factsheet number 104953, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104953.