White Star Line was founded in Liverpool, England by John Pilkington and Henry Threlfall Wilson. The company originally operated chartered sailing vessels and purchased its first steamship in 1863. After the London to Australia route began to lose money the White Star began to focus on the Liverpool to New York, transatlantic route. In 1867 the company went bankrupt and was purchased for 1,000 pounds sterling by Bruce Ismay. The White Star offices still exist and a museuem to the Atlantic passenger liner industry is being setup on the grounds. The only remaining remnants of White Stars heritage is Cunard Line's use of the White Star name on its crew training facility, and for certain passenger treatment packages.