The Dolphin Company, which owns the Miami Seaquarium and other marine parks, has filed for Chapter 11 bankruptcy in the US to restructure its business and finances.
The Cancun, Mexico-based company operates 30 parks and dolphin experiences in eight countries. It said the bankruptcy process will ensure the continued operation of its attractions.
Through the Chapter 11 filing, the Dolphin Company aims to improve business operations, animal welfare, guest experiences, employee engagement, and vendor relationships, it said in a statement.
As part of the process, the company has also completed a transition in leadership.
The business will now be overseen by independent director Steven Strom from Odinbrook Global Advisors and chief restructuring officer Robert Wagstaff of Riveron Management Services.
“This restructuring will best enable the company to restructure under Chapter 11, a well-recognized court-approved process, while improving the welfare of our animals, ensuring a seamless experience for employees, and delivering an enhanced guest experience,” said Strom.
Restructuring and improving animal welfare
“By taking this proactive step, we are ensuring that the Dolphin Company can continue to offer world-class attractions and immersive experiences to the millions of guests who visit our parks each year.”
Wagstaff said: “We’re focused on achieving the best possible outcomes for the company, including striving to provide best-in-class habitats and living conditions for its animals.
“To that end, we plan to enlist the help of marine biology and veterinary experts while also fully cooperating with the appropriate regulatory bodies.”
News of the bankruptcy filing comes after one of the Dolphin Company’s attractions, Gulf World Marine Park in Florida, was raided by US law enforcement and wildlife officials due to animal welfare concerns.
Local media reports that four dolphins have died at Gulf World in the past year – three in October and a fourth last month while performing tricks for an audience.
Images courtesy of the Dolphin Company
