Fish firm fails
Dawnfresh collapses, 200 jobs lost, Arbroath sold
One of the UK’s largest producers and processors of fish and seafood – Dawnfresh Holdings – has plunged into administration.
Two hundred jobs have been lost at its Uddingston headquarters, while 249 in Arbroath have been saved after a buyer stepped in to acquire the business.
Founded in 1973, the business operates seven fish farms across Scotland and Northern Ireland.
The Uddingston facility, which was heavily loss-making, will close with immediate effect, with 77 staff being retained to assist the joint administrators with the winding up process.
The assets of the Uddingston site, which includes the land, buildings and plant, will be marketed for sale and interested parties should also contact the administrators FRP Advisory.
FRP has secured a sale of the Arbroath facility to Lossie Seafoods as a subsidiary of Associated Seafoods in a deal that includes the transfer of all staff there to the new owners.
The company supplies a wide range of retail, wholesale, food service and export market clients with a fully integrated range of services, from fish processing and supply through to the creation of high value branded products such as RR Spink & Sons and Loch Etive.
The subsidiary business Dawnfresh Farming will continue trading solvently. The business is being marketed for sale and interested parties are invited to contact FRP Advisory as soon as possible.
Commenting, Callum Carmichael, partner with FRP said: “Dawnfresh is a high profile and highly regarded seafood business with a long tradition of supplying innovative products to a blue-chip customer base.
Unfortunately, the business has been unable to overcome very serious financial problems at the Uddingston facility, but we are pleased to have secured a prompt sale of the Arbroath facility in a deal that will also preserve substantial employment in the town.
“Our focus is now on finding a buyer for the farming business whilst also realising as much value as possible from the other assets for the benefit of creditors.”