More than ten companies are claiming one of FTI’s still profitable subsidiaries, the luxury tourism specialist, tour operator Windrose.
According to a report by the German tourism website FVW, which has been republished by other media in recent hours, following the bankruptcy of the FTI group and a number of its subsidiaries, the insolvency administrator of the third most bankrupt tourism group in Europe has started the process of selling its subsidiaries that remain profitable. One of these is the case of tour operator Windrose, whose managing director, Christian Böll, acknowledged that several companies have already applied to be taken over.
In particular, the provisional insolvency administrator, Müller-Heydenreich Bierbach & Colleagues, has instructed a firm specialising in mergers and acquisitions to sell the Berlin-based company, with Mr Böll explaining that “there are more than ten interested parties for Windrose”.
The tour operator has managed to escape the “domino effect” caused by FTI’s initial bankruptcy just 20 days ago because, unlike other subsidiaries that have become insolvent in recent weeks, Windrose has many areas of its business that are independent of its parent company FTI.
“We have our own accounting, our own booking system, we create our own product and we have always worked with other inbound agencies,” said Windrose CEO Christian Böll.
