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On Wednesday January 28, 2026, the Commercial Court of La Rochelle is due to announce either the extension of the observation period opened under the receivership agreement, or the liquidation of the association which has been running the ship for over thirty years.
A court decision with far-reaching consequences
Created in 1992 in Rochefort, the Hermione La Fayette Association's mission was to rebuild the frigate that carried the Marquis de La Fayette to the United States in 1780, at the height of the American War of Independence. In September 2025, financial difficulties led to the opening of a receivership. The pending decision of the La Rochelle Commercial Court now determines not only the legal survival of the structure, but also the operational future of the ship. Extending the observation period would allow time to consolidate a viable project. A liquidation would put an end to the association, with all the uncertainties this implies for the boat.
Three takeover bids, but no secure financing
The insolvency administrator received several letters of intent in early January 2026. Three projects were submitted, all qualified as unfunded takeovers. Two of them came from former Hermione sailors. Their objective is clear: to restore the ship to a seaworthy condition and put her back to sea with a crew trained to handle a three-masted square-rigged vessel. These projects are in line with the ship's maritime continuity, but at this stage do not offer sufficient financial guarantees to cover the costs of restoration and operation.
A third project has been submitted by Olivier Poivre d'Arvor, President of the Musée de Rochefort. His proposal is based on a change of vocation. The Hermione would remain docked, integrated into a permanent museum facility. This option would limit the technical constraints associated with navigation, but it would also mean abandoning the sea as the ship's main horizon.
Restoration complicated by hull condition
The current difficulties stem from the discovery, in 2021, of lignivorous fungi on the hull. This structural damage necessitated a major partial rebuild. Since then, the Hermione has been immobilized in dry dock at the port of Bayonne, in Anglet. Visits to the shipyard are organized on a regular basis to maintain links with the public and generate resources, supplemented by fund-raising campaigns. The total cost of restoration is estimated at around 10 million euros, of which just over half has been raised to date.
Sail or dock
The inaugural voyage in 2015, retracing La Fayette's historic route, was a reminder of the Hermione's maritime vocation. But sailing with such a vessel implies high costs, ongoing maintenance and a crew trained in traditional maneuvers. Conversely, keeping the Hermione alongside the quayside reduces nautical constraints, but profoundly transforms the relationship with the ship. The court will have to assess whether one of the projects presented allows us to preserve our heritage, the safety of the vessel and a credible economic model.
