Series of bankruptcy in Russian tourism industry continues – “Solvex Tour” is insolvent

The large bankruptcy wave in the Russian travel industry is not over yet. At the beginning of the week the well known touroperator company “Solvex Tour” declared itself bankrupt at court in St. Petersburg. Thousands of tourists have to leave their hotel rooms and are stuck because of unpaid flights.

The crisis in the Russian tourism industry started in mid-July with the crash of the popular tour operator company “Neva” in St. Petersburg. This was the trigger to a bankruptcy wave that involved dozens of agencies and operators throughout Russia, the newspaper Sankt-Petersburger Herold reports.

Between 5000 and 9000 customers are now stuck abroad. The branch organization “Tourpomoch” which is funded by the Russian travel industry is currently working to organize the transport back home for Russians who are stranded abroad.

As a major cause for the bankruptcy of “Solvex Tour” the company mentioned the difficult situation in foreign policy and in conjunction with that, a sharp decline of tourist travels from Russia to other countries.

Source: Sankt-Petersburger Herold (in German)