Exploris Expeditions & Voyages is seeking judicial recovery in France after facing financial difficulties, reports in France stated.

According to Ouest-France , the expedition company was placed in receivership by the Nantes Commercial Court in late September.

Quoting Exploris’ Co-Founder and President Philippe Videau, the French newspaper noted that the company averaged just 50 percent occupancy earlier this year.

TourMag said that, under French law, the receivership process occurs when a company ceases payment of its debts.

The court-supervised procedure is aimed at allowing the company to continue its activity, maintain employment and settle its debts.

Exploris is now set to operate under the supervision of an administrator while it formalizes a recovery plan, the tourism news s

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