Saturday, June 8, 2024 Hornblower Group (referred to as “Hornblower” or the “Company”) has announced that the U.S. Bankruptcy Court for the Southern District of Texas has approved its Plan of Reorganization.
The Company anticipates completing its financial restructuring and emerging from the court-supervised process in the coming weeks. Through this process, Hornblower aims to set the stage for future success with a more focused portfolio, new majority ownership, and a strengthened balance sheet for enhanced financial flexibility. Kevin Rabbitt, Hornblower Chief Executive Officer, said, “With the Court’s approval of the Plan, we are closer to emerging as a stronger company, with a more focused portfolio and additional financial flexibility to fuel our growth.
We look forward to completing this process and continuing to build on our position as a global leader in world-class experiences and transportation.” He added , “Throughout this process, we have continued to provide our land- and water-based travel experiences to guests around the world and bring commuters reliable transportation services. This was largely due to the outstanding dedication and unwavering efforts of our entire Hornblower Crew.
We are also grateful to our financial stakeholders as well as our vendors, suppliers and business and government agency partners and our loyal employees for their support and continued partnership as we enter Hornblower’s next phase of growth.” Upon the Company�.
