Fri, 15 May 2015 | ADMINISTRATION
Grimsby-based Mariner Foods has entered administration after a loss of contracts and a lack of raw materials.
The firm stopped trading on 5 May and Kingsbridge Corporate Solutions were appointed as administrators this week (13 May).
According to a spokesman for the insolvency group and Mariners, the administration was the result of “a loss of customers and a lack of supplies of key, strategic raw materials”, which “led to a reduced turnover leaving the business unsustainable”.
Among the company's assets are a 56,000 sq ft premises, which was used for serving international markets, as well as retail and food service. Salmon, shell fish and fresh and frozen white fish were all processed at this location. The business counted big brand companies including Aldi among its customer base.
Unfortunately, however, difficulties with sourcing the volume of raw materials required and the diminishing margins in the industry meant that the firm was unable to continue.
A spokesman confirmed that a few redundancies “could not be avoided”, but noted that many staff had been offered employment with other local businesses.
Mariner Foods' parent company, Sealincs Ltd, is looking at its options for restructuring Mariner during the administration period.
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