Cruise & Maritime Voyages has entered administration. All future cruises have been cancelled.
The cruise line shut down operations just after 7pm on Monday 20 July. This also includes its German brand Transocean Kreuzfahrten.
A statement on their website read: “We are sorry to inform you that South Quay Travel Limited (“SQTL”) – which traded under the name Cruise & Maritime Voyages – was placed into administration on 20 July 2020. Paul Williams, Phil Dakin and Edward Bines of Duff & Phelps Ltd. were appointed Joint Administrators of SQTL. At present the Administrators are evaluating SQTL’s financial position.”
In June, the cruise line announced it was in talks with a range of financial institutions and banks to improve its liquidity position. The cruise line made headlines earlier in the month after funding plans were subsequently turned down.
Since its creation in 2009, Cruise & Maritime rapidly grew to become Britain’s largest independent cruise line, boasting six ships and two planned to join in 2021.
2019 was a record trading year for the company and before the lockdown in March it reported 90% capacity had already been sold for 2020 and 50% for 2021. The unprecedented impact of Covid-19 created a huge challenge for the company, one that evidently could not be solved in time.
The cruise line was known for convenient regional UK departure ports and value fares, including Buy One Get One Free.
All cruises sold are protected by ABTA. Those with future bookings are advised to visit cruiseandmaritime.com for details on how to claim back money paid.