Paravion, Romanias biggest online tourism portal, has filed for insolvency and will close bavul.com, the Turkish-based portal it purchased in 2014. The company will implement a restructuring plan starting August 8.
In the past year, Paravions Turkish portal, bavul.com, which represents one third of the business, recorded losses, due to the political instability and security issues affecting Turkey. Losses amounted to several million euros, sources say. Paravion is managed by GED investment fund.
The online tourism agency Paravion, present in Turkey with portal bavul.com, will implement a restructuring program starting 8 August 2017. The decision was motivated by the dramatic drop of the business ran by Paravion in Turkey via Bavul…
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