Former CMV Boss Set To Relaunch Cruise Line

Cruise & Maritime Voyages' Columbus

The former boss of Cruise & Maritime Voyages, Christian Verhounig, has purchased the cruise line’s database and booking systems in a bid to relaunch cruise operations.

Sky News reports that a number of assets belonging to Cruise & Maritime Voyages have been sold to a new vehicle established by the former boss.

Duff & Phelps, the administrator, had sought to sell the business and wider assets of CMV and a number of sister companies. The administrators confirmed today that Christian Verhounig, the head of CVI Group, has acquired customer databases, booking systems and intellectual property, as well as cars and office furniture.

Cruise & Maritime Voyages’ administration did not include its fleet of six ships, which were owned by other companies.

Paul Williams, joint administrator at Duff & Phelps, said: “We have worked hard since being appointed to secure a sale of the business and assets of the companies.

“Regrettably, given the devastating impact of the global pandemic on the entire travel industry, with a focus on the leisure cruise sector, this has not been possible in this instance.

“However, I strongly believe that this asset sale not only represents the best value for the companies’ creditors that was achievable in challenging market conditions, but also provides an opportunity for CVI, through its owner Christian Verhounig, to continue to pursue funding opportunities to potentially relaunch CMV’s unique cruise operations to its dedicated customers at some point in the future.”

Mr Verhounig said: “The global pandemic had a devastating impact on CMV’s once flourishing, expanding and profitable business.

“Having developed a much-loved brand over the past decade and hugely popular value-based niche no-fly cruise product, we have been simply overwhelmed by the outpouring of support and pleased to re-launch the business.”

“This endorsement across the industry and customer base alike has been a rich source of encouragement and together with my previous management team, we are working hard to plug the huge market gap vacated by CMV’s untimely insolvency.”

“The acquisition of the UK commercial assets provides a positive first step and we believe demonstrates our firm commitment and optimism to return much stronger and to work alongside our loyal suppliers and creditors to also help mitigate the pandemic impact,” he said.

CMV customers whose bookings were cancelled as a result of the company’s administration will still have to continue to seek compensation through the existing claims process..