Ambassadors International, the parent company of Windstar Cruises, sold its marine and event-management units recently, but its first-quarter earnings statement indicates that the company may need to raise additional capital to stay afloat. The company may have to consider its options "if we are not able to sell our remaining non-Windstar Cruises assets, raise additional financing and/or renegotiate existing debt obligations," Ambassadors said in a statement.

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