Cruise line files for bankruptcy – TravelMole true

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Cruise line files for bankruptcy

Sunday, 30 Jun, 2023 0

Boston based small cruise line  Vantage Deluxe World Travel has filed for bankruptcy and selling its business.

It filed for Chapter 11 bankruptcy and has already lined up a buyer –  United Travel Pte. Ltd.

United Travel Pte. Ltd.is an affiliate of Nordic Hamburg and Heritage Expeditions.

Vantage laid off its employees earlier this month and postponed all cruises through August 28.

“Vantage has sought customary relief from the court to preserve the status quo pending completion of the sale,” the company said, referring to the bankruptcy filing.

“Vantage has sought approval to complete the sale promptly, subject to any higher and better offers.”

Singapore based United Travel Pte. Ltd. has reportedly agreed to pay $1m for Vantage’s assets and protect customer credits.

The Massachusetts. Attorney General’s Office says it received 1,120 consumer complaints about Vantage since 2020, including 478 complaints filed this year.

The state Consumer Advocacy and Response Division said it had recovered more than $1.2 million in refunds for Vantage customers.

The company’s main market was catering to seniors.

It chartered the Ocean Odyssey and Ocean Explorer ships.

Vantage was founded in 1983.

It incurred losses in 2020 of $29million due to the pandemic.

 

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TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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