American Queen Voyages has ceased operations.

This was revealed via a voice message on the company’s reservation call center as well as in a message to employees and crew.

“American Queen Voyages has made the difficult decision to shut down and all future cruises have been cancelled. Guests and customers should expect to be fully refunded for cancelled cruises,” the message said.

Employees and crew were told the shut down was due to  “unfortunate business circumstances and an inability to obtain sufficient capital at a commercially reasonable rate to continue operations.”

After expanding, Hornblower-owned American Queen recently refocused operations, getting out of the coastal cruise market and putting two small ships up for sale. It also reduced its U.S. river capacity from four ships to three ships. The company was poised to operate its three small riverboats in 2024, plus a seasonal expedition program in Alaska.

Update: In a statement sent out Wednesday morning, it was revealed Hornblower was sold and as part of the agreement, would sell or shut down American Queen Voyages. Read more here.