The shareholders of EuroParcs have been forced by creditors to contribute millions of euros to keep the company afloat.
That’s what the FD writes.
According to the newspaper, the manager of holiday parks has been in dire financial straits for some time.
With debt relief, the owners, including investor Waterland, prevent them from losing control of the company.
This prevents holiday parks from being forced to sell.
According to the FD, EuroParcs owes more than 200 million euros in debt to the American private lender Ares, Rabobank and ABN Amro.
Among other things, EuroParcs has a mortgage with Ares with holiday parks as collateral.
The creditors demanded that the shareholders put new capital into the company.
Because of its majority stake in EuroParcs, Waterland will have to pay the largest amount.
It is not known how much money is involved.
According to co-owner and EuroParcs CEO Wouter Vos, the problems have arisen due to changed market conditions, such as the war in Ukraine, increased global tensions, changes in the tax regime, the energy crisis and high inflation.
According to him, the turnover from rental is increasing again.
‘I think it’s important to emphasise that EuroParcs and our parks are currently performing well operationally,’ he told FD.
The FD article does not mention another problem that EuroParcs is facing, namely the large number of negative reviews from customers on websites such as Trustpilot and Parkvakanties.nl. (Photo: Shutterstock).
