CMV looks to secure ‘additional financing’

CMV, which has currently suspended all itineraries up to 25 August because of the Covid-19 pandemic, is currently looking for “additional financing to improve its liquidity position”.

Sky News reported that the Purfleet-based cruise company, which employs 4,000 people, is in “last-ditch” talks with creditors and lenders, with hopes of a new financing deal being agreed by the end of this week.

“As the majority of other cruise lines have already done or are presently doing, CMV is also looking for additional financing to improve its liquidity position until sailing will resume again,” said the line in a statement.

“As such CMV is presently in discussions and negotiations with a number of financial institutions and banks and is confident to finalise these discussions very shortly and so is unable to comment on or disclose details of these discussions with individual parties until they are finalised.”