Nustay files for bankruptcy following serious challenges of the COVID-19 crisis
Nustay A/S (“Nustay”) has today announced that as a result of the COVID-19 crisis, it will be filing for bankruptcy. The company has experienced a very significant drop in sales volume due to the continuing global travel restrictions - with sales at 5% of the volume of January and February 2020. This continued industry-wide uncertainty has also made meant that the company has been unable to secure sufficient funding to continue operations.COVID-19 crisis has continued to present difficult challenges As a result of the continuing global travel restrictions, Nustay’s Board of Directors