Future For Shetland Fish Firm Looks More Hopeful – Fishupdate.com

Future For Shetland Fish Firm Looks More Hopeful European Fish Trader Published:  22 May, 2003

THE FUTURE of the largest private employer on the Shetland island of Yell looked more optimistic tonight, one week after the receivers were called in.

The jobs of 22 people at the Shetland Norse Preserving Company, at Mid Yell, were thrown into doubt when the Norwegian owned business brought in Deloitte & Touche to take over the running of the business, last week.

Today however the receivers announced that 19 people had already responded to an advert which appeared in the national business press, on Tuesday, and expressed an interest in taking over the fish processing firm.

All interested parties have been sent a “sales pack”, according to a spokeswoman for the receivers. The closing date for applications to buy the business is next Friday.

SNPC ran into financial difficulties earlier this year and was forced to lay off 12 part time workers. Its problems came after it invested heavily in a new fish canning operation, which never managed to reach full capacity. Fishermen also went without payment for some time, and a few claim they are still owed money.

Shetland Development Trust, which has £210,000 invested in the company, said it would be interested in offering help to any prospective buyer. SDT manager Neil Grant described it as a business which has great potential.