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Tourism: Pierre & Vacances plays its survival role

2021-12-01T21:18:12.359Z

In losses for ten years, the owner of Center Parcs needs to be quickly recapitalized. Pierre & Vacances Center Parcs is fighting for its survival. In difficulty for years, the European leader in tourist residences has lost its footing due to the health crisis. In debt to the tune of 1 billion euros, posting negative equity of 424 million, it signs a new year of losses, the tenth in ten years. During the financial year ended at the end of September 2021, the net deficit reached 341.



Pierre & Vacances Center Parcs is fighting for its survival.

In difficulty for years, the European leader in tourist residences has lost its footing due to the health crisis.

In debt to the tune of 1 billion euros, posting negative equity of 424 million, it signs a new year of losses, the tenth in ten years.

During the financial year ended at the end of September 2021, the net deficit reached 341.3 million euros (- 336.1 million a year earlier);

revenue fell 9% to € 1 billion.

Despite a recovery in activity since this summer, the company has seen its market capitalization fall to 61 million euros.

Read also

Variant Omicron: the great concern of tourism professionals

There is an urgent need to recapitalize the group, by finding a new shareholder.

As part of a

“backing process”

announced in April

,

Pierre & Vacances only received a firm offer from a trio of investors, Alcentra-Fidera-Atream.

Alcentra and Fidera are debt holders of Pierre & Vacances;

Atream knows the band well, as they are

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Source: lefigaro

All business articles on 2021-12-01

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