Dutch travel company D-reizen declared bankrupt

D-RT Group, the parent of Dutch tour operator D-reizen, has been declared bankrupt, a court spokesman said on Tuesday, potentially affecting more than 1,000 employees. The Netherlands has largely avoided corporate bankruptcies during the pandemic as employers are able to receive government support to continue paying employees.

D-RT Group, the parent of Dutch tour operator D-reizen, has been declared bankrupt, a court spokesman said on Tuesday, potentially affecting more than 1,000 employees.

The Netherlands has largely avoided corporate bankruptcies during the pandemic as employers are able to receive government support to continue paying employees. "This is a pitch black day for us" CEO Jan Henne de Dijn said in a statement. Henne de Dijn and another executive bought D-RT Group from German firm Raiffeisen Touristik Group GmbH on Dec. 23, 2020, and had been in talks with creditors to avoid bankruptcy.

Details of the bankruptcy, which was ordered by a court in Haarlem, have not been published. A court spokesman referred questions about whether the company would be liquidated or restructured to curators, who could not be reached for immediate comment.

D-RT Group had sales of 68 million euros and 1,225 employees in 2018, according to the most recent filings available from the Dutch Chamber of Commerce.