One Ocean Expeditions may be nearing a restructuring of its expedition cruise brand, according to a statement. 

“Our recent efforts at restructuring our business have been going well and we are in advanced discussions with a qualified potential partner to rebuild our business,” said Andrew Prossin, managing director, in a statement which also said the company’s next departure set for Nov. 21 has been cancelled.

The one-brand expedition cruise brand essentially suspended operations in October and entered a self-described restructuring period, citing an extremely challenging business situation due to the sudden withdrawal of two of the company’s three vessels earlier this year by Russian owners.

The Nov. 21 sailing aboard the RCGS Resolute was set to sail 10 nights round trip from Ushuaia on the company’s “Antarctica – Off the Beaten Track” itinerary.

“Howe ever, some facets of the restructuring have created complications that will keep us from operating your voyage,” the company told booked guests. “On completion of restructuring, we will be in touch regarding any compensation possibilities. In the meantime, we encourage you to contact your insurance provider.”