Queen Mary Sends SOS as Holding Company Files for Bankruptcy

The latest operating company of the Queen Mary, once a transatlantic carrier and now a renowned tourist site, filed for bankruptcy on Jan. 21. Previous operators have also struggled to keep the ship, which now operates as a hotel, afloat financially.

The city of Long Beach owns the Queen Mary, but independent operating companies hold the land lease. These companies are responsible for the upkeep, but reap the profits of visits to and hotel stays on the ship.

But COVID-19 restrictions have greatly reduced visits to the ship. And the Queen Mary shares a terminal with the Carnival Cruise Line. Cruises have been one of the hardest-hit sectors of tourism. That lack of travel has affected the Queen Mary's bottom line.

But allegations of mismanagement have arisen. And the fate of the Q...

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