Travel tech company Snowfall is relaunching as Junction in
what it says is a “full reset of the business”, with some of its operations understood to have been liquidated.
The company, whose difficulties have been documented in recent
months, said its major long-term investor, Korelya Capital, was helping to fund the
relaunch, while other unspecified “existing and new investors” are also
providing support.
As part of its relaunch, Junction announced the appointment
of deputy CEO, Hervé Gilg, former managing director and partner of turnaround
and transformation consultants Alvarez & Marsal. In addition, Matthew
Turner of investment firm Triton joins the company as chairman of the board.
BTN Europe has been told by multiple…
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