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."
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