5 business problems that sent the 'never-ending' cruise into a financial spiral
Source: Business Insider ·
The founder behind the "never-ending" cruise told Business Insider that problems piled up this year, starting with the Iran war.
From the source
The Villa Vie Odyssey's residents said they were given eight hours to disembark in Cambodia.TANG CHHIN Sothy / AFP via Getty ImagesThe founder behind the "never-ending" cruise told Business Insider that problems piled up this year.The Iran war sent fuel prices soaring. Then Villa Vie spooked passengers by asking them for loans.Now founder Mikael Petterson says he is considering bankruptcy.A financial whirlpool sucked the "never-ending" cruise under.The founder behind the Villa Vie Odyssey told Business Insider that the Iran war fuel-price surge was the beginning of a "cascading effect" that led the cruise to shut down this week. Mikael Petterson, Villa Vie Residences' founder and executive chairman, said he's considering bankruptcy.Villa Vie sold permanent cabins at prices ranging from $119,999 to $439,999, promising residents an endless cruise with stops at more than 400 ports of call and a global circumnavigation every three-and-a-half years.Here are five business problems that…
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