The problems encountered by SeaFrance recently could lead to a takeover bid from LD Lines, one of its rivals on the cross channel ferry network, according to reports.
LD Lines claims that its bid could save hundreds of the 650 jobs that SeaFrance is planning to cut to save money during the economic downturn.
The ferry operator also said that a successful takeover bid would create a single company big enough to survive the effects of the recession.
Christophe Santini, managing director of LD Lines, told BBC News that his company is discussing the prospect of taking over SeaFrance.
He added: "The global group would keep the name of SeaFrance and we would be committed to preserve the vessels of SeaFrance under the French flag."
SeaFrance, which provides cross channel ferry services from Dover to Calais, is currently owned by French national rail operator SNCF.
LD Lines recently boosted its route network by launching new ferry crossings from Dover to Boulogne and Dieppe.