Dawnfresh goes into administration

Dawnfresh, one of the UK's largest fish producers and processors, has gone into administration with the loss of 200 jobs, but its three Argyll fish farms are still trading while a buyer is found.

 

Dawnfresh Holdings Limited, Dawnfresh Seafoods Limited, and R R Spink & Sons (Arbroath) Limited, operate two production and processing facilities in Uddingston and Arbroath, and supply high value branded smoked fish, such as RR Spink & Sons and Loch Etive.

 

Its subsidiary Dawnfresh Farming Ltd, which operates seven fish farms across Scotland including Loch Etive Trout Farm and two on Loch Awe at Braevallich and Tervine, is continuing to trade solvently, and is being marketed for sale by the administrators, FRP Advisory.

 

Following a short marketing exercise to find a buyer, FRP secured a sale of the Arbroath facility to Lossie Seafoods Limited, as a subsidiary of Associated Seafoods Limited, in a deal that includes the transfer of all 249 staff to the new owners.

 

The Uddingston facility, which was heavily loss-making, is closing with immediate effect, resulting in 200 redundancies, with 77 staff being retained to assist administrators with the winding up process. The assets of the Uddingston site, which includes the land, buildings and plant, will be marketed for sale.

 

Callum Carmichael, partner with FRP, said: '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.'