Travelex bankruptcy declaration | Economie

After the company received protection from its creditors at the beginning of this summer, Ghent’s court declared bankruptcy on Friday, the court says. The bankruptcy petition came from the temporary administrator appointed by the court. He may no longer see any chance of survival. The man chose not to comment on Monday because the file was no longer in his hands.

Travelex had ten branches in Belgium, including Zaventem Airport and several major train stations. The Belgian part of the company, which also had other activities, was a loser for several years. Last year’s problems, such as the cyberattack, the coronavirus pandemic, and difficulties with money-transfer partner Western Union, were added, bringing the numbers down.

The British parent group also experienced severe weather, partly for the same reasons. It also received protectors against its creditors last year, but was finally able to make a fresh start. This was accompanied by job losses and branch closures.