This story is free to read because readers choose to support LAist. If you find value in independent local reporting, make a donation to power our newsroom today.
The Queen Mary Got A Royal Sum For Repairs. Now Its Operator Is Filing For Bankruptcy
File: People visit for free on the 80th anniversary of the Queen Mary on Sept. 26, 2014 in Long Beach. (Frederic J. Brown/AFP via Getty Images)
The operator of the Queen Mary, the nearly 90-year-old ocean liner owned by the city of Long Beach, has filed for Chapter 11 bankruptcy.
According to court documents acquired by the Long Beach Post, Singapore-based Eagle Hospitality Trust filed for bankruptcy on Monday, with more than $500 million in debt.
Long Beach Post reporter Kelly Puente says the bankruptcy is the latest in a long string of financial problems.
"The ship has really been allowed to fall to the wayside. It needs millions and millions of dollars in repairs — by some estimates, over $200 million in repairs. So there's just a lot of concern that the ship is being neglected and not adequately cared for."
READ THE FULL STORY:
- Queen Mary operator files for Chapter 11 bankruptcy (Long Beach Post)
Our news is free on LAist. To make sure you get our coverage: Sign up for our daily newsletters. To support our non-profit public service journalism: Donate Now.
You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief
