Van Hool has been declared bankrupt by the Commercial Court of Mechelen and its coach and bus activities are set to be purchased by VDL Groep, it has been confirmed.
The news brings an end to weeks of intense speculation around the future of the Belgian manufacturer, which in March published a recovery plan in recognition of its difficulties. Progress on implementing that quickly faltered owing to internal difficulties, and in early April the business announced that it was taking a further week to secure its future.
Bankruptcy was declared on 8 April and the Court appointed four trustees to oversee that formal process. It had been suggested that Van Hool was carrying debt of around 400 million.
In a sombre statement, Van Hool acknowledge…
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