Company that owns embattled Miami Seaquarium files for Chapter 11 bankruptcy

The Dolphin Company, the Mexican-based parent organization of the Miami Seaquarium, has announced plans to restructure its financial liabilities, addressing recent reports of financial instability. CEO Eduardo Albor emphasized that this initiative is a strategic move to negotiate with creditors and does not equate to a bankruptcy filing. He stated, “It is instead… a mechanism provided by Mexican laws to facilitate an agreement with the main creditors, protecting the interests of other suppliers, employees, and customers, as well as the company’s assets for its benefit.” ​

This development follows a series of challenges for the Miami Seaquarium, including an eviction notice from Miami-Dade County due to alleged lease violations and concerns over animal welfare. In March 2024, the county issued a notice to vacate, citing a “long and troubling history of violations” and “repeated, continuous and longstanding violations” of contractual obligations. ​

In response, The Dolphin Company filed a federal lawsuit against Miami-Dade County, alleging unfair regulatory practices and breach of agreement. The lawsuit contends that restrictive zoning and land use policies have hindered the Seaquarium’s operations and seeks compensation for economic damages and reputational harm. ​

Complicating matters, the Seaquarium lost its accreditation from the Alliance for Marine Mammal Parks and Aquariums (AMMPA) in February 2025 due to “material violations” of the organization’s standards. An internal memo indicated that the AMMPA Board of Directors voted unanimously to terminate the Seaquarium’s membership, though specific violations were not detailed. ​

Despite these challenges, Albor remains optimistic about the company’s future, asserting that The Dolphin Company will continue to welcome guests to its parks and habitats across multiple countries. He emphasized a commitment to reaffirming the company’s foundations and preparing for what he believes will be its best years ahead. ​

As the situation evolves, stakeholders, including employees, creditors, and patrons, are closely monitoring developments, hopeful that the restructuring will lead to a more stable and prosperous future for both The Dolphin Company and the Miami Seaquarium.