海角视频

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PRIVACY
Manufacturing

Buyer found for Grimsby's threatened Iceland Seafood 海角视频 plant

Letter of intent to sell has been signed by owner after announcement made to pull out of British market

Iceland Seafood 海角视频, formerly Five Star Fish, on Great Grimsby Business Park, alongside the A180. Could there be a new name for the prominent site? (Image: PPH Commercial)

Almost 200 jobs could be saved in Grimsby with the emergence of a buyer for the Iceland Seafood 海角视频 plant.

A letter of intent to sell the subsidiary to a “respected industry player” has now been signed by parent company Iceland Seafood International, as a thorough examination of the business begins. It is hoped a deal could now be agreed before the year-end.

The significant step forward emerged out of Reykjavik this morning, and comes just over a fortnight after the company announced it was to exit the 海角视频 market, putting the significant number of roles at risk on Great Grimsby Business Park.

Read more: £5m boost defrosts huge Grimsby cold storage expansion after costs soared on £30m plant

Losses of £12 million were reported since the former Five Star Fish plant was taken on just as Brexit hit, with operations catering for both retail and the locked down foodservice sector. Brexit complications and lack of stock entering the pandemic had also been voiced.

In a statement released by the company, chief executive Bjarni Ármannsson, said: “Further to Iceland Seafood’s announcement on November 17, Iceland Seafood has today signed a Letter of Intent with a respected industry player to sell its subsidiary Iceland Seafood 海角视频 Ltd. The LoI is a legally non-binding document but its provisions will serve as key terms in the event of the potential transaction.

A promotional shot from Seafood From Iceland's Fishmas marketing campaign, launched in 2020. A prompt sale could bring relieved Christmas cheer for scores of Grimsby families this winter. (Image: Seafood From Iceland)

“The parties have agreed to run a swift due diligence process with the aim to complete a binding agreement before the end of December. Further update on the progress made in relation to the proposed transaction and its financial impact on Iceland Seafood will be provided as appropriate.”

The lifeline will be welcome news just before Christmas for a team management had faith in to be an attraction to the industry.