Dutch travel firm Oad goes bankrupt

NETHERLANDS - Oad, one of the biggest travel firms in the Netherlands, was declared bankrupt on Wednesday afternoon, with the loss of 1,450 jobs. The company shed 170 jobs in March as part of a reorganisation.
The company says that the bad economical 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.
The bankruptcy of  family owned 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 Oad to the snow or the sun.
The tour operator was also a well-known company for travelling to Aruba,, Bonaire, Curacao and Sint Maarten. 
Branch organization ANVR, thinks that Oad has started to late with responding to the changing market. The consumer wants nowadays to organize his or het trip from behind the computer. The company announced in March to start with a new strategy but this has been to no avail.
'We are losing one of the sector's biggest players,' Frank Oostdam, chairman of the Dutch tour operator organisation ANVR said.
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, 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.

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