And the board of Sogestran now want to find a vessel that will allow losses to be cut before sailings resume.
It means Christmas travel plans for thousands of passengers could be affected.
The company is not taking any bookings at present and passengers who have reservations with Emeraude are being given a full refund.
The board met last Thursday and decided to scrap an order for a replacement vessel for Solidor 5, which is in dry dock having repairs made to a serious stabilisation problem.
It is not known at this stage whether a suitable vessel can be found to operate over the busy Christmas period.
