Cruise Adviser

CMV chairman buys company’s assets

Database and booking systems bought by Christian Verhounig

Christian Verhounig, the former CEO and chairman of Cruise & Maritime Voyages (CMV), has bought the company’s assets from administrators.

Verhounig has completed the purchase through a new company, CVI Group Limited.

The sale includes: customer databases; computer systems, including websites and booking systems; office furniture and equipment; IT infrastructure; intellectual property; and motor vehicles.

CMV‘s ships are not involved in the sale.

Verhounig, explained: “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.”

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“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.”

Paul Williams, joint administrator, Duff & Phelps, added: “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.”

The cancellation of previous advanced customer bookings remains unaffected by the sale.

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