Data Bankruptcy to sell the last asset of the former operator Pullmantur Cruises

   January 31, 2023 ,   Accidents

Pullmantur Cruises' bankruptcy administrator Data Bankruptcy intends to sell the last asset of the former operator.

The administrator is expected to put the Pullmantur brand up for sale on February 1st.

Until February 27th, interested companies may submit non-binding offers.

The process is due to be completed in April when the line's bankruptcy will be finally completed. A report presented by the consultant EY says the offers for the brand name had to be greater than EUR 177.000.

The bankruptcy administrator is responsible for the offers and will inform the creditors about the details of the sale through the quarterly report sent to Madrid's Commercial Court.

Pullmantur Cruises filed for bankruptcy back in 2020, as the major stakeholders - Springwater Capital (51% interest) and Royal Caribbean (49% interest) - agreed to proceed with liquidation.

The standstill of the industry caused by the COVID crisis made Pullmantur operations untenable without reorganization. Before the cruise company filed for insolvency, Pullmantur's fleet included Sovereign and Monarch (former Royal Caribbean cruise ships) which were sent to the scrapyard in Turkey.

Pullmantur Horizon cruise ship

After 2 years of sitting in limbo in Greece, the last cruise ship of Pullmantur set sail on her final voyage in 2022. MV Horizon set sail to Turkey's Aliaga ship-breaking yards where she was scrapped.

With the dismantling of mv Horizon, the entire fleet of Pullmantur ceases to exist.