Paul Williams, Phil Dakin and Edward Bines of Duff & Phelps Ltd have been appointed joint administrators of CMV and its sister companies South Quay Travel & Leisure Ltd, Independent Coach Travel (Wholesaling) Ltd and Viceroy Ltd.

Customers who were booked to travel on the firm’s liners were informed of the firm’s collapse in an email on Monday.

The firm operated six ocean ships and was planning for the arrival of its newest one next year.

The firm’s chief executive Christian Verhounig said attempts to secure the company with extra funding had failed. He said: “Only last year CMV was celebrating a record trading year and our first decade in cruising but the CMV journey has tragically been cut short by this unprecedented global pandemic.”