Windstar Cruises Bankrupt? April 21, 2009News from PR Newswire may suggest that. Ambassadors International, Inc., the parent company of Windstar Cruises, may be on the brink actually. TodayAmbassadors sold its Travel and Events division to Lakeview Equity Partners, LLC, a Milwaukee Equity Fund. It appears to me that they are trying to liquidate some slack in the company, and focus on their core operations.