CDNN :: Bikini Atoll Divers bankrupt, out of business
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by LAMAR BENNINGTON - CDNN Industry News Editor
MAJURO, Marshall Islands (29 May 2008) — Troubled Bikini Atoll Divers will shut down in two weeks.
Plagued by bad management, increasing fuel costs and unreliable air service, troubled Bikini Atoll Divers will shut down in two weeks after sustaining unprecedented losses.
Plagued by bad management, increasing fuel costs and unreliable air passenger service, Bikini Atoll Divers went bankrupt after piling up unprecedented losses.
The struggling company was subsidized by the Bikinians' U.S.-invested resettlement trust fund, but recently its value has plummeted forcing local leaders to pull the plug and sink Bikini Atoll Divers.
Officials said it is unlikely the company would be reopened given the difficulty of making its scuba diving and fishing business profitable...