Hornblower Cruises and Events owners of the City Cruises and City Experiences brands globally, which operate in cities like London, Boston, Chicago has filed for bankruptcy in the U.S., saying its overnight cruise business hasn’t rebounded from the Covid-19 pandemic.

In the bankruptcy filing in Texas and ancillary proceedings in Canada, they listed between $1 billion and $10 billion in debt saying they would shed $720 million during a reorganization.

Deutsche Bank Private Credit & Infrastructure is providing $300 million in debtor-in-possession financing to continue the operations of the excursions and ferries uninterrupted, while Strategic Value Partners and Crestview Partners will provide Hornblower with $121 million in new-money financing.

SVP will also “provide a significant equity investment in the business,” Hornblower said in a statement.

So how will this restructuring affect the future operations of City Cruises UK in London?

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CEMEX has agreed a new five-year partnership with Walsh , a leading provider of river, road and rail freight solutions in London.

The contract will see Walsh running barges on the River Thames to transport aggregates from CEMEX’s wharf at Dagenham to its readymix plant at Fulham with a 75% CO2 saving compared to road transport.

This contract will transport CEMEX materials on the Thames with one barge service completed every day. The use of a river barge to transport these materials takes trucks off the road, helping to ease congestion and reduce emissions; each loaded barge carries 400 tonnes which saves the equivalent of 20 HGV lorries travelling across the centre of London.

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