One of many UK’s largest producers and processors of fish and seafood, Dawnfresh Seafoods and RR Spink & Sons (Arbroath), have been positioned into administration.
Based in 1973 and headquartered in Uddingston, the enterprise operates seven fish farms throughout Northern Eire and Scotland, with manufacturing and processing amenities in Uddingston and Arbroath.
The corporate provides a variety of retail, wholesale, meals service and export market shoppers with a variety of providers, from fish processing and provide by means of to the creation of branded merchandise equivalent to RR Spink & Sons and Loch Etive.
In recent times the enterprise has invested to improve the plant and techniques, bettering effectivity and lowering prices. Nonetheless, regardless of greatest efforts to have an effect on a turnaround, the enterprise has continued to endure from rising prices, overcapacity on the Uddingston website and unsustainable money stream issues, with administration being the one choice.
Following a brief advertising train to discover a purchaser, joint directors FRP Advisory secured a sale of the Arbroath facility to Lossie Seafoods, as a subsidiary of Related Seafoods, in a deal that features the switch of all 249 employees to the brand new house owners.
The subsidiary enterprise Dawnfresh Farming will proceed buying and selling solvently. The enterprise is being marketed on the market and events are invited to contact FRP as quickly as attainable.
Sadly, the Uddingston facility, which was closely loss-making, will shut with quick impact, leading to 200 redundancies, with 77 employees being retained to help the directors with the winding-up course of.
Directors goal to help these affected, together with serving to with redundancy fee claims and accessing third occasion assist providers.
The belongings of the Uddingston website, which incorporates the land, buildings and crops, can be marketed on the market.
In September, Dawnfresh commenced a session with employees at Uddingston, making an attempt to encourage manufacturing groups to maneuver to its expanded website at Arbroath.
Callum Carmichael, accomplice with FRP, mentioned: “Dawnfresh is a excessive profile and extremely regarded seafood enterprise with an extended custom of supplying progressive merchandise to a blue-chip buyer base.
“Sadly, the enterprise has been unable to beat very severe monetary issues on the Uddingston facility, however we’re happy to have secured a immediate sale of the Arbroath facility in a deal that may also protect substantial employment within the city.
“Our focus is now on discovering a purchaser for the farming enterprise while additionally realizing as a lot worth as attainable from the opposite belongings for the good thing about collectors.”
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