Cruise & Maritime Voyages Limited (07665897): administration
- Status
- Administration ended
- Administration began
- 2020-07-20
- Administrators
- Paul David Williams, Philip Joseph Dakin, Edward Robert Bines
- Administrators' firm
- Kroll
- Incorporated
- 2011-06-10
- Location
- London
- Industry
- 79110 Travel agency activities
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
As a direct result of the COVID-19 pandemic, the Group had ceased cruising operations and was suffering cashflow difficulties.
Prior to the Appointment Date, Duff & Phelps were engaged by the UK. Group to assist with refinancing.
On 20 July 2020, despite the Directors’ best efforts over the preceding months, the board concluded that they were unable to secure a refinancing arrangement. As a result, the board made the ’ decision to place the Company and the UK Group.into Administration.
Administrators' statement of proposals (2020-09-28) · Companies House register