Published On: Thu, Sep 26th, 2013

Oad bankruptcy could have serious consequences for the hotel industry in Curacao

HOLTEN-OAD-INVALWILLEMSTAD – Travel organization Oad has been declared bankrupt on Wednesday. The company says that the bad economic climate and the reduced turnover in the travel branch have caused the bankruptcy. Oad had to file for bankruptcy since they couldn’t pay their bills and salaries anymore.

Family owned company

The bankruptcy of Oad (Overijsselse Autobusdiensten) has caused a stir among the other travel companies. After all, the in 1924 founded company, was a leading tour operator. They also had the 140 travel shops Globe. Many people have traveled with family owned Oad to the snow or the sun.

Branch organization, ANVR, thinks that Oad has started too late with responding to the changing market. The consumer wants nowadays to organize his or her trip from behind the computer. The company announced in March to start with a new strategy but this has been to no avail.

Union FNV

The curator has informed the Union FNV that all the employees will be fired. Since Oad can’t pay the salaries anymore over September, the UWV will pay the salaries for the 1750 employees. The employees have been asked to continue to work.

SGR

SGR, a foundation which guarantees travelers their money back in cases of emergency, has announced that all 7000 people who are on holiday now can just continue their stay without extra costs. People who still have to start their trip can get their money back or will be offered an alternative trip. Travelers are told to look at the website of Oad and the SGR for further announcements.

Jacob Gelt Dekker

According to the Dutch investor, Jacob Gelt Dekker, the Oad’s bankruptcy could mean disaster for the tourism industry in Curacao. After departure of Breezes Vacation Club, Hyatt Hotel closure, bankruptcy of DAE, and now Oad, the Government has to wake up. This chain reaction will continue for a while.

Click Tag(s) for Related Articles: