Insolvency: Cham Cambodia Resort and Spa files for Bankruptcy

Phnom Penh, Cambodia – A popular resort in Cambodia, the Cham Cambodia Resort and Spa, has filed for bankruptcy and insolvency, according to a recent announcement made by the company.

The resort, which is located in the coastal town of Kep, has been struggling financially in recent years due to a decline in tourism and mounting debts.

The company has cited the COVID-19 pandemic as a major factor in its financial struggles, as travel restrictions and lockdowns have significantly reduced the number of tourists visiting Cambodia.

The resort has been in operation for over 20 years and has been a popular destination for both domestic and international tourists. It is known for its beautiful beach, luxurious accommodations, and world-class amenities.

The bankruptcy filing has raised concerns about the future of the resort and its employees. The company has said that it is working with its creditors to find a solution that will allow it to continue operating.

The Cham Cambodia Resort and Spa is one of several businesses in Cambodia that have been affected by the COVID-19 pandemic. The tourism industry has been particularly hard hit, as travel restrictions have made it difficult for people to travel to the country.

The Cambodian government has been providing financial assistance to businesses that have been affected by the pandemic, but it is unclear if this will be enough to help the Cham Cambodia Resort and Spa avoid closure.