Norwegian Cruise Line may be forced to go out of business

'Substantial doubt' if business can continue
Posted at 7:34 PM, May 05, 2020
and last updated 2020-05-05 20:09:41-04

MIAMI — (CNN/WPTV) - Norwegian Cruise Line is warning investors it might be forced to go out of business following the coronavirus pandemic.

The announcement came in a Tuesday filing with the Securities and Exchange Commission.

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Norwegian Cruise Line holdings said its accounting firm has "substantial doubt" about Norwegian's ability to continue to operate.

News of a possible bankruptcy sent shares of Norwegian stock plummeting on Tuesday to $11.18 a share.

Norwegian suspended sailings on March 14, along with an industry-wide shutdown, which has been extended through at least June 30.

The cruise line has been in business since 1966.

News of Norwegian's money woes come a day after Carnival Cruise Line announced they will resume cruises in August from Miami, Port Canaveral and Houston.

The cruise industry has been hit particularly hard by the pandemic.

Several high profile ships had multiple people test positive for the coronavirus and many of them died from COVID-19.

In the subsequent months, some ships then had a hard time finding ports where they could discharge their passengers.