Greater than 200 Lanarkshire jobs have been misplaced with instant impact after Dawnfresh Seafoods entered administration.
The Uddingston -based fish manufacturing facility had suffered from rising prices, overcapacity and unsustainable money circulation issues.
The corporate say that administration was the one choice left because the native facility in Bothwell Park Industrial Property closes with instant impact.
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It has resulted in 200 redundancies, with 77 workers being retained to help the joint directors within the winding up course of.
The agency mentioned its joint directors, Tom MacLennan, Callum Carmichael and Michelle Elliot - companions with FRP Advisory - will "present each help" to these affected, together with serving to with redundancy fee claims and accessing third celebration help companies.
The belongings of the Uddingston web site, which incorporates the land, buildings and plant, will likely be marketed on the market and events must also contact FRP Advisory.
Dawnfresh Holdings Restricted, Dawnfresh Seafoods Restricted and R R Spink & Sons (Arbroath) Restricted one of many UK’s largest producers and processors of fish and seafood.
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 purchasers with a totally built-in vary of companies, from fish processing and provide by to the creation of excessive worth branded merchandise reminiscent of RR Spink & Sons and Loch Etive.
In recent times the enterprise has benefited from intensive funding to improve the plant and methods, enhance effectivity and scale back prices.
Nevertheless, regardless of greatest efforts to have an effect on a turnaround, the enterprise has continued to undergo from numerous points and was "closely loss-making", leading to right this moment's determination.
Following a brief advertising train to discover a purchaser, the joint directors have secured a sale of the Arbroath facility to Lossie Seafoods Restricted as a subsidiary of Related Seafoods Restricted in a deal that features the switch of all 249 workers to the brand new house owners.
The subsidiary enterprise Dawnfresh Farming Ltd will proceed buying and selling solvently. The enterprise is being marketed on the market and events are invited to contact FRP Advisory as quickly as potential.
Commenting, Callum Carmichael, associate with FRP mentioned: “Dawnfresh is a excessive profile and extremely regarded seafood enterprise with an extended custom of supplying revolutionary 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 will even protect substantial employment within the city.
"Our focus is now on discovering a purchaser for the farming enterprise while additionally realising as a lot worth as potential from the opposite belongings for the good thing about collectors.”
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