D-reizen, Dutch Subsidiary of German Travel Company 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, Reuters reported. 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” broadcaster NOS quoted CEO Jan Henne de Dijn as saying, adding the company, a unit of German firm Raiffeisen Touristik Group GmbH, had been in talks 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. Read more.