Van Hool, the bus builder facing bankruptcy, is in talks with potential investors. Flemish Minister of Work Jo Brouns (CD&V) expressed hope that the company could begin anew with a new investor, stating that there are serious candidates interested in the company. Following several crisis meetings on Friday, it was revealed that the banks are Van Hool’s largest creditors with 200 million euros. The Flemish government will only consider providing financial support if the banks are willing to intervene. They reiterated that they will not provide capital themselves and will only do so once an industrial partner or another party invests in the bus builder. As a result, Van Hool is increasingly heading towards bankruptcy.
Brouns emphasized that the participation of the banks is a condition for financial support and that bankruptcy followed by a swift restart could be the best option. The minister stated that efforts are being made to ensure a restart is possible and that serious candidates believe in the future of Van Hool. More clarity is expected on Monday, when the company will hold a press conference.
In a restart, Brouns stressed the importance of maintaining a foothold in Flanders and minimizing layoffs. The hope is to find a strong industrial partner to support the company’s future in Flanders. The Flemish government is prepared to use all available tools to assist in the process. Brouns expressed the importance of providing clarity to the staff after a period of uncertainty and hoped for more information to be revealed on Monday.