Turnhout – The transport company Group De Wolf in Turnhout has declared bankruptcy, ceasing operations and impacting approximately 100 employees following failed takeover negotiations. The issues of rising fuel costs and intensified competition were cited as primary factors behind this downfall, reports 24brussels.
The bankruptcy was confirmed on Tuesday evening, August 19, 2025. Employees gathered on Wednesday, August 20, 2025, to receive updates on the closure.
“We’re closed,”
said Renaat Peters, an employee and member of the ACV union, following management’s notification.
“It is a sad story. I have been here for many years, and with my colleagues I have always worked hard. We went through tough times, but I kept hoping the company would survive. Now that hope is gone.”
What led to the Group De Wolf bankruptcy in Turnhout, affecting 100 employees?
The bankruptcy of Group De Wolf had been anticipated for some time. Employees reported that the company faced immense pressure amid challenging conditions in the transport sector. Rising fuel prices, fierce competition, and decreasing profit margins severely affected daily operations.
“The transport sector is struggling right now,”
Peters remarked.
“Some of our trucks have been standing still for days and even weeks. And a truck that is not moving does not earn money.”
Management had been in discussions with a potential buyer interested in acquiring the business. However, those negotiations collapsed when the buyer withdrew unexpectedly at the last moment.
“There was a potential buyer, but they backed out at the last minute,”
Peters confirmed.
“The management told me there will be no restart.”
This closure leaves employees without jobs, as unions begin addressing severance, unpaid wages, and other support for those affected.
The downfall of Group De Wolf aligns with a troubling trend of bankruptcies within the Belgian transport industry. Notably, Ecodis Transport in Beveren went bankrupt in 2020 due to mounting debts and dwindling demand. In 2021, Van Mieghem Logistics in Vilvoorde reduced its fleet size due to financial pressures, and the following year, Sitra Logistics in Roeselare scaled back operations amid rising costs.
