One ship Finnish line Kristina Cruises has gone into administration amid financial difficulties.

The family-owned line, which operates the Kristina Katarina, has cancelled its winter season and 2,500 reservations.

The company, in a statement, said it was hoping to re-organize itself by March in time for the 2014 season. In the mean time, it plans to return deposits to customers that had their sailings cancelled.

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