As I recall she was engaging the German raider with her final shells - Starshells - And scoring hits, when a German shell finds her forward magazine and blows the bow off. She goes down under full power of ~ 40 knots I believe, in Arctic seas during winter...A last charge similar to that of HMS Ulysses but with a whole fleet? Now that would be an action which would go down in history. It would be less ignominious than the OTL end of the HSF anyway (not that that wasn't an honourable end in its own way).
Ulysses is sunk in a failed attempt to ram a German cruiser after all her other weapons had been destroyed.
(quoted from the linked Wikipedia article)