Hawaii Superferry Files For Bankruptcy

Hawaii's only inter-island passenger ship, The Hawaii Superferry, is filing for bankruptcy. This came only two months after a State Supreme Court ruling effectively shut it down.

The ferry's operator, Hawaii Superferry Inc., gave a statement saying that the expense of maintenance outweighed the revenue of the two vessels. The company found no other options in order to meet its financial obligations.

“Our efforts to refinance and restructure the company for this interim period with additional investment have not been successful, as yet,” the company told the New York Times. “Accordingly, a filing of Chapter 11 was an unavoidable next step.”