A Cruise Line Known For Exploring One Of The World's Most Exotic Locations Just Filed For Bankruptcy

According to Ouest France reporting, Exploris Expeditions & Voyages — known for its polar region exploration cruises and for expeditions by glaciologists, geologists, and other professionals — went into receivership in France on September 25, 2025, and is undergoing what's equivalent to Chapter 11 bankruptcy proceedings in the U.S. Four months earlier, company co-founder and president, Philippe Videau, admitted that occupancy rates on Exploris One — a ship with a maximum capacity of 144 passengers in 72 cabins – only reached 50%. So, its challenges were already known in the industry. In an additional financial blow, a planned collaboration with Adventure Canada fell through, eliminating a potential cash influx. 

In France, receivership can take place when a company's cash flow isn't enough to meet its financial commitments, and it triggers a stoppage in payments from the company. A business in receivership, however, can still operate and maintain its workforce as it attempts to solve financial problems. Exploris' payment cessation date began on June 20, 2025, and the company will be under observation through March 24, 2026 as Exploris leaders seek new investors and financial partnerships. Many times, this type of financial distress has been solved through acquisition, like when Air Belgium filed for bankruptcy and the French logistics company, CMA CGM, bought the struggling airline. It's unknown whether Videau is open to selling his company outright, or if he wants to continue his big plans for expansion, including obtaining more vessels.

Numerous companies have come back from bankruptcy, and Exploris has both opportunities and challenges to explore. According to the 2024 Travel Market Report, expedition cruises are in hot demand. Nearly eight out of ten travel advisors noted that this type of cruise accounted for up to 10% of gross sales each year, and six out of ten travel advisors expected to see significant growth in this type of booking. When adding in the geologists and other professionals needing transportation to polar regions, the demand seems there, although this elegant ship and its gourmet meal preparation, 24-hour beverage service, modern fitness room, whirlpools, sauna, steam room, massage room, and fully staffed medical center doesn't come at bargain basement pricing. In October 2025, Exploris is offering 25% discounts, causing a trip to the Antarctic Peninsula to start around $13,400 per person. A trip encompassing the Antarctic Peninsula, the Falkland Islands, and South Georgia would start around $15,000 per person, while a trip to Iceland would come with starting costs of about $6,200. That doesn't include the price of the flight to get where Exploris One would be docked, so travelers from the U.S. could benefit from looking into how to get the cheapest international flight deals.

In an interview with SeatradeCruise News, Videau estimated a need for $4.6 to $5.8 million USD in investment dollars, also reporting that two investors have expressed interest. The ship initially cost the company about $35 million USD.