Deilmann’s river cruise division insolvent

Germany’s Peter Deilmann Reederei is to focus operation in future on ocean cruises following its decision to seek protection from creditors for its eight ship river cruise division which is insolvent. The German line said that the remaining river cruise programme for 2009 would go ahead.

Deilmann says that it has been badly hit this year in declining sales for its river cruise programme, especially from the US and the UK, as well as being hit by currency exchange factors. The company said that the collapse of its river cruise division was ‘inevitable’, after banks called-in loans and requests for assistance with liquidity were denied. Sphere: Related Content