Pierre Vacances Center Parcs (Paris:VAC):
In its latest press release on the first-quarter revenues, the Group confirmed that its situation was heavily impacted by the restrictive measures related to the health crisis and the closure of almost all of its tourist sites.
In view of the uncertainty linked to the worsening of the health situation and the lack of visibility on the dates of reopening of its sites, and while awaiting sector support measures from the French State, the Group is considering several measures to address this unprecedented situation, including the initiation of amicable and, as applicable, orderly negotiations with its various partners, and the strengthening of its equity.
To date, no terms and conditions or any decisions have been made. The Group will keep the market informed, if applicable, of any future developments on these various issues.
As demonstrated by its post-lockdown performances last summer, the Group has structural strengths that will enable it to bounce back very quickly as soon as health conditions allow the reopening of its tourist sites.
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