Belgian tanker manufacturer Van Hool said it was taking another week to pursue a “sustainable future” after attempts to get a recovery plan approved stalled.

Previously it said that 31 March was the target date to find a solution to its financial problems, but in a statement this week, the company explained that an “inheritance law dispute within the shareholders and Van Hool family proved unresolvable”.

The statement added: “An already ongoing parallel process to explore alternative scenarios was intensified.

“This included talks with potential acquirers to explore a possible relaunch, with attention to all stakeholders, especially considering the employees. Those talks were constructive and conducted in a good atmosphere.”

Last month, Van Hool said the challenging financial conditions it now faced were caused by the impact of the corona virus, high energy costs, high inflation and global component supply problems.

It added that its realignment plans involved the industrial vehicles division in Koningshooikt focusing on semi-trailers “requiring a higher degree of expertise and offering higher added value for the customer as well as for the company”.