Shetland Catch said a Norwegian shareholder had invested £3m in the business five months after the company was hit by a £1.5m confiscation order over a black fish scam.
Shetland Catch said a Norwegian shareholder had invested £3m in the business five months after the company was hit by a £1.5m confiscation order over a black fish scam.
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MARK WILLIAMSON
A significant employer on the eponymous islands, Shetland Catch said Norway Pelagic provided the funding to increase its shareholding in the business from 25% to 50%.
The deal values Shetland Catch at £12m.
Shetland Catch's chairman, John Goodlad, said the investment reflects a wider confidence in the industry and recognises the potential the company has to develop its business.
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