Maybe they should have dropped the price on the empty cabins.
Just like other tour companies will do.
I would guess they were making a little bit of money being only 1/3 capacity.
The fuel cost made them lose money.
IF they had the other 2/3 of the rooms sold at even half the price they would probably still be operating.
That is my assumption as well. I think the problem with their business model is how many people are actually going to sell everything to become anchor babies or go on 3 months cruises with a bunch of hidden costs.