Bus builder Van Hool has filed a petition with the Mechelen company court to have a judicial reorganization procedure opened. The company reports this in a press release.
Van Hool, which has run into financial difficulties, wants to enable the continuity of its activities and safeguard ongoing “constructive” discussions and negotiations with its banks, the Flemish government, employee representatives and other stakeholders about a recovery plan.
By the end of March, the management wants to be able to announce the financing of the recovery plan on the table. That plan was proposed earlier this month and would result in the departure of approximately 1,100 employees over the period from 2024 to 2027.
Van Hool has approximately 4,100 employees worldwide, the majority of whom work at the production sites in Koningshooikt (Belgium) and Skopje (North Macedonia).