We're saddened to share that Peter Pan Seafood will be halting operations at its processing plants, leading to the discontinuation of both summer and winter production cycles for the foreseeable future.
Efforts are underway to facilitate a smooth transition. For individuals who have worked or are working with Peter Pan Seafood as processors and are in search of job opportunities, we urge you to submit your application to Silver Bay Seafoods.
A commercial fisherman in King Cove, where Peter Pan has a major processing plant, tells Deckboss the company "sent every fisherman a final settlement" on Saturday "and turned off our health insurance we had through them."
ReplyDeleteThe Peter Pan disruption has worked a hardship on cod harvesters and created uncertainty for the upcoming salmon season, the fisherman added.
ReplyDelete"This was the first winter I have not gone cod fishing in 24 years because we had no market," he said. "All other companies didn't want to take our cod, even if we fished out of Sand Point or Dutch Harbor."
Peter Pan was sending most workers out of King Cove today, the fisherman said.
ReplyDeletePeter Pan Seafoods, the perpetual adolescent of the seafood industry, finally hung up its cap after what felt like an eternity of fishy shenanigans. Born in 1912, it spent its years flipping fish and flying under the radar, leaving a trail of fishy tales and salty characters in its wake. Whether you loved it or loathed it, there's no denying Peter Pan Seafoods made a splash in the ocean of commerce. Farewell to the forever-young fishmonger; may its legacy be as enduring as Neverland itself.
ReplyDeletePeter Pan is done. Likely SBS ends up owning Dillingham and maybe Port Moller. King Cove is probably history.
ReplyDeleteTrident is next up to die. They still have an opportunity to keep Kodiak and False Pass (who would buy False Pass anyway other than SBS for pennies on the dollar). But for Trident, False Pass is essential to support Sand Point in the Peninsula. So, if they can get some accomplished management to run Alaska and some direction at the top, they could still pull it off. Otherwise, they should just do what UniSea and Maruha did and become a Bering Sea pollock processor.
Good luck with that Trident theory, 10:23. You must have not known Chuck.
ReplyDelete"The worst thing you can do to a child, and I've seen it happen so many times, is the silver spoon."
Elton John
I agree with 10:23 a.m. Trident is making strange moves getting almost all the way out of salmon but not quite. Their management has made it quite clear salmon is a distraction, so just get out like Maruha, Nissui and Marubeni. I doubt anyone in Tokyo is sad about getting out of salmon. Let Silver Bay and the Canadians solve the mess, or maybe OBI has a secret plan.
ReplyDeleteThe point of the 10:23 post is that Trident could still change course if they had the will. And importantly, the will to change requires looking for the best Alaska managers to take charge. The people they have can't do it. And, if they are so lucky to find the right managers, they need to be given freedom to act. Is it likely to happen? Probably not.
ReplyDeleteTrident is making moves that finally make financial sense. That is, Chuck was a visionary and no one wanted to alter his vision. But, that vision is not right in today’s economic times. Joe and team are making financial moves not based on legacy issues or regional stakeholder needs. Kudos to them.
ReplyDeleteI guess kudos to them for realizing that unlike Silver Bay, they can't make it happen. But they had it all. People really make the difference, don't they? So they shrink and leave the leadership to Silver Bay. We all saw them rise from a single crab catcher-processor to the giant of the industry. And now the decline has begun.
ReplyDelete👍 "Nepo Baby"
ReplyDeletePPSF boarding up all bunkhouse doors Tuesday and sounds like they will be out of fuel within two weeks. They don't use King Cove city power, so everything will be shut down soon. Last PPSF employee leaving town May 10, sounds like. Going to have two security guards stay, but not sure how they're going to live with no power.
ReplyDeleteYes
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