Former CMV boss buys line’s assets in bid to relaunch brand

CMV went into administration last month but now Verhounig’s CVI Group Limited has purchased CMV assets from administrator Duff & Phelps.

Verhounig said: “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 relaunch the business.

“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.”

CVI has purchased CMV’s customer databases, computer systems including websites and booking systems, office furniture and equipment, IT infrastructure, intellectual property and motor vehicles.

Joint administrator Paul Williams added: “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 sale of the assets to CVI does not affect the cancellation of previous advanced customer bookings for CMV cruises.