By Scott Wright
ADMINISTRATORS for Dawnfresh Seafoods have sold the stricken company’s fish farming subsidiary, saving nearly 70 jobs.
Dawnfresh Farming has been bought out of administration by Mowi Scotland, a subsidiary of the Bergen-based international seafood farming and processing business Mowi ASA, for an undisclosed sum.
The deal has safeguarded 67 jobs and includes seven fish farms and five hatcheries. Six of the fish farms are based in Scotland, in locations such as Loch Etive, Glen Devon and Kinnaird near Brechin, and one is in Northern Ireland.
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Dawnfresh Seafoods fell into administration last February after running into unsustainable cash flow problems, despite investment to upgrade plant, improve efficiency and reduce costs.
The company’s processing plant in Uddingston was closed immediately with the loss of 200 jobs, though administrators at FRP Advisory quickly found a buyer for RR Spink & Sons, an Arbroath-based subsidiary. RR Spink was sold to Lossie Seafoods in a deal that saved 249 jobs.
Forty jobs were then saved after FRP sold the Dawnfresh fish processing facility in Uddingston to Thistle Seafoods.
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Dawnfresh Farming has remained a solvent trading subsidiary while its parent group has been in administration. The company, which turned over £20.4 million in the year to March 27, 2022, supplies trout to a wide range, wholesale, food service and export customers.
Callum Carmichael, joint administrator to Dawnfresh and partner with FRP Advisory, said: “It is excellent news that Mowi has acquired the fish farms and related assets and that all 67 staff, who have continued to operate the farms throughout the administration, will transfer across to the fast-growing MOWI business.
“I would like to thank the staff for their support during this difficult period and wish Mowi every success with their acquisition and with their plans to develop their business.”
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