Cruise line One Ocean Expeditions says it will soon go into administration after months of trying to restructure the business.

A letter shared by the line outlines various options for customers and agents seeking refunds.

The letter reads: “Those who wish to may attempt to seek a refund of monies paid to One Ocean Expeditions. This will occur through a business administration process overseen by a court appointed trustee.

“Alternatively, as OOE will soon enter a formal restructuring process (business administration) under the Canadian legal system, you may be able to seek refunds through the cancellation terms of your travel insurance policy.”

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“We sincerely regret the impact events of the past weeks have had on you and your travel plans,” the line added.

The Canadian-based line, which operated polar expedition itineraries, has cancelled several sailings since November after two ships it operated were pulled out of service by the vessels’ owners earlier in the year.

A statement posted by Bristol-based travel agency Swoop Antarctica, which previously sold the line’s sailings, reads: “One Ocean Expeditions announced that they will be entering into a formal business administration process.

“This latest news has brought clarity for booked customers in terms of now knowing the options. Swoop are working with our customers to help find the best outcome for each one.”

Swoop Antartica stopped selling One Ocean Expeditions in November and has since shared letters it has received from the line.

Announcing the decision to pull One Ocean Expeditions sailings last year, the agency business said “a handful” of bookings had been affected by the cancellation of a voyage on November 6.

Multiple cruises were subsequently cancelled by One Ocean Expeditions over the last three months as the line battled to rebuild the business.

In a letter to customers, One Ocean Expeditions managing director Andrew Prossin at the time confirmed he was attempting to restructure the business.

One Ocean Expeditions’ problems appeared to start when two ships which were owned by the Russian government were reclaimed in May last year.

The line said the loss of two ships was a “destabilising event”.

In the statement, posted on Facebook last year, One Ocean Expeditions said: “The withdrawal of these ships was an unexpected and destabilising event, and the violation of our contract remains the subject of ongoing legal action.

“As a result of the contract breach we suffered earlier this year, our company is now in a difficult period of restructuring.”

The line was also removed from the International Association of Antarctica Tour Operators’ directory last year.

Travel Weekly has approached One Ocean Expeditions for comment.