Over six out of ten tourism companies fear bankruptcy

Easter holidayEaster holiday.Photo: Erik Johansen / NTB scanpix
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The Coronavirus crisis is causing over six of ten tourism companies to fear bankruptcy, according to a recent survey. 125,000 jobs are at risk, says NHO Reiseliv.

– “Everyone with a large turnover failure must take full advantage of the government’s compensation scheme,” says CEO Kristin Krohn Devold of NHO Reiseliv.

They are the ones behind the investigation, which shows that the majority of the country’s tourism companies are on the verge of bankruptcy.

The survey also shows that as many as nine out of ten tourism companies have laid off employees. 78 percent of the companies have laid off between 76 and 100 of their employees.

Last week, the government launched a compensation scheme for companies that experience turnover failure. But there are still many unclear details, Devold believes.

“Among other things, the scheme must include not only the companies that the authorities have ordered to close, but also the companies that suffer major financial losses as a direct consequence of the Coronavirus situation,” she says.

© NTB Scanpix / #Norway Today

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