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.
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