Oad holiday companies to relaunch

The Oad holiday bus company and cultural holiday company SRC, both part of the Oad travel group which was declared bankrupt last week, are to relaunch with new backers, news agency ANP reports.

The group went bankrupt last Wednesday with the loss of 1,450 jobs, stranding some 7,000 people in their holiday location.

The official receivers have reached agreement for the bus company to be run by its former director Frans Schuitemaker, who has financial support from an investment company. ANP does not give details.

SRC will return to the ownership of its founder Wibo Anema, who set up the company in 1983 and sold it to the Oad group in 2002, says ANP.

The relaunch will see 200 employees retain their jobs.

The official receivers have not said if other parts of Oad can also be relaunched.


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