The hotel group Maribel, which has operated over 50 First and Moxy hotels in Norway, is bankrupt, writes Dagens Næringsliv.
This winter, the newspaper wrote that the group had a significant deficit and had also broken loan terms.
The financial challenge that has followed the corona crisis was the last nail in the coffin for the company, Maribel boss Pål Mørch informs the newspaper. He says the company has a debt of over one billion kroner.
According to Mørch, the hotels have a positive cash flow, and they are still full. He says it is difficult to say how many employees will be affected by the bankruptcy.
“This is the first time I am involved in a bankruptcy. We must try to establish an organization that allows this to continue to operate. For First Hotel as a brand, it is absolutely crucial that we do not get into a situation where guests are out on the street,” he says.
© NTB Scanpix / #Norway Today
In the UK, their Belvar division is not yet bankrupt. However, they have taken the government money, but have not paid their staff.