Posts Tagged ‘Pinneys’
Young’s buys site for Grimsby expansion
YOUNG’S Seafood is thought to have spent more than £1 million buying a 13-acre site in Grimsby in readiness for future expansion in the town. The land is a former cold store and logistics base less than two miles from its main fish dock production factories. The site was on the market at £1.5 million,…
Read MoreYoung's breaks half billion pound barrier
YOUNG’S Seafood today announced a 5.4 per cent increase in turnover and an operating profit of £8.4 million for its financial year to September 30, 2017. The turnover went up from £496.5 million to £523.3 million during the year – and that was before its entry into the United States market had fully come into…
Read MoreFirst Pinneys redundancies begin
WITH the first redundancies at Pinneys of Annan already underway, demands are growing for the Scottish government to produce immediate cash help for the 450 people who are to lose their jobs. It is almost three months since Young’s Seafood announced it planned to close the site by the end of the year, moving fresh…
Read MoreYoung's set to lose £30m Asda contract
THE seemingly endless merry-go-round of winning and losing major fish contracts took a new turn last night with news that Young’s Seafood is poised to lose a £30 million contract with the supermarket chain ASDA. The impact on jobs is still to be assessed. The contract is in two parts – a shrimp or prawn…
Read MoreYoung's confirms Pinneys closure
YOUNG’S Seafood has confirmed that it is going ahead with its decision to close its Pinneys factory in Annan. The site employs 450 people, more than four per cent of a town which has a total population of a little under 10,000. But when pitched against the size of the workforce, the figure is probably…
Read MoreYoung's sales continue to rise
YOUNG’S Seafood is continuing to enjoy sales growth, both in the UK and in its new markets in the United States. The company has reported turnover for the second quarter of its financial year (January 1 to March 31) of £136.3 million and an EBITDA (earnings before interest, tax and depreciation) of £5.5 million, maintaining…
Read MoreSt James Smokehouse to buy Pinneys
THE owner of the award winning Scottish salmon company St James Smokehouse said speculation that he was planning to buy Pinneys was correct. Brendan Maher (pictured) said he and his factory manager, Leo Sprott, had spent 10 hours at the factory in Annan, which Young’s Seafood has put up for sale. ‘We spent 10 hours…
Read MoreFashion chain owner ‘eyeing Young's’
THE private equity company Sun Capital Partners, whose portfolio includes the women’s fashion chain Bonmarche and the UK bed maker Dreams, is reported to be considering a bid for Young’s Seafood. The current private equity owners announced on Thursday that Britain’s largest seafood business was being put up for sale. No price tag has been…
Read MoreFour companies ‘interested in Pinneys’
SCOTLAND’s business and enterprise minister, Paul Wheelhouse, is scheduled to meet the Young’s management team at the Pinneys salmon plant in Annan later this week. He is expected to discuss the future of the site, which is threatened with closure at the end of the year, putting 450 jobs in jeopardy. The move comes as a formal…
Read MoreSt James Smokehouse eyes Pinneys
THE award winning Scottish salmon company St James Smokehouse has confirmed that it is interested in buying the Young’s Seafood Pinneys factory in Annan – and retaining all of the 450 people who work there. The company is based in Annan and specialises in high quality hand crafted smoked salmon products. The firm’s owner, Brendan Maher…
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