There has been a lot of speculation recently about the future of Cruise and Maritime Voyages (CMV). The company, which operates small- to medium-sized ships around the world, has been experiencing financial difficulties and there are concerns that it may be going bust. Let’s take a closer look at the situation.
What is Cruise and Maritime Voyages?
Cruise and Maritime Voyages is a British cruise line that was founded in 2009. It operates a fleet of six ships, including the Astoria, Marco Polo, Magellan, Columbus, Vasco da Gama, and Amy Johnson. The company specializes in smaller ships that can navigate ports that larger vessels cannot reach.
What are the financial problems?
In early July 2020, it was reported that Cruise and Maritime Voyages had gone into administration. This means that the company is no longer able to operate as a going concern and its assets will be sold off to pay its debts. The decision to enter administration was reportedly made after CMV was unable to secure additional funding from its investors.
Impact on Customers
The news of CMV’s financial troubles has left many customers uncertain about their upcoming cruises with the company. If you have booked a cruise with CMV, it is important to check with your travel agent or the company directly for information about cancellations or refunds.
Impact on Employees
The administration of CMV also has significant implications for its employees. It is reported that over 4,000 jobs could be lost as a result of the company’s collapse.
Is there any hope for CMV?
At this point, it seems unlikely that Cruise and Maritime Voyages will be able to continue operating in its current form. However, there have been reports that other companies may be interested in acquiring some of CMV’s assets. It remains to be seen what will happen to the company and its ships.
Conclusion
The future of Cruise and Maritime Voyages is uncertain. The company’s financial troubles have led to its administration, leaving customers and employees in a state of uncertainty.
While it is possible that some of CMV’s assets may be acquired by other companies, it seems unlikely that the company will be able to continue operating in its current form. If you have booked a cruise with CMV or are an employee of the company, it is important to stay informed about developments as they unfold.
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