Vacasol files for bankruptcy
Danish online vacation rental booking business Vacasol is filing for bankruptcy.
The news comes a few days after LeisureLink closed its operations.
In a statement sent to its partners, Vacasol says:
“It is with great sadness we have to inform you that we are filing for bankruptcy of Vacasol International A/S with the court in Denmark.
“During the last months we have had negotiations with potential investors and buyers in order to strengthen the strategic and financial foundation of the company.
“Despite intense efforts and dialogues with interested parties, it has now become evident that these efforts will not succeed. Nor has it been possible to secure the necessary funding from existing shareholders to secure the continued operations of the company.
“Within the next days a liquidator will be appointed, who will take over the management of the company in order to secure the best possible results for its creditors. The liquidator will also investigate the opportunities to sell all or part of the assets of the company, and will also take direct contact to the creditors of the company. This process will realistically take 2-3 weeks.
“As of today we will not accept new bookings. For pending bookings we will advise our clients to take contact directly to our agency partners in order to possibly secure their booking.
“We sincerely regret the trouble an inconvenience this may cause you.”
Vacasol has been around since 2007 and distributes more than 20,000 European holiday homes through various channels including its own websites in Denmark, Sweden, Norway, Netherlands, Germany, France and the United Kingdom.
It also owns and operates Your.Rentals, a property management platform for holiday rental owners “to connect with the world’s leading holiday rentals websites.”
Its LinkedIn page says it employs between 11 and 50 people.
Martin Cowen is contributing editor for Tnooz and is based in the UK. Besides reporting and editing, he also oversees our sponsored content initiative and works directly with clients to produce articles and reports.
For the past several years he has worked as a freelance writer, specialising in B2B distribution and technology.
Before freelancing, from 2000-2008, he was launch editor for e-tid.com, the first online-only B2B daily news service for the UK travel sector.