Sunday, May 29, 2016

That's it for Great Pacific

With a new salmon season upon us, one processor is calling it quits.

Seattle-based Great Pacific Seafoods has discontinued operations and will liquidate through bankruptcy.

Here's a Seattle Times article with a link to the bankruptcy filing.

Great Pacific ran processing plants at Anchorage, Kenai and Whittier, and also had operations at Kotzebue.

1 comment:

Anonymous said...

No big deal; From New England Fish to Inlet Salmon, bankruptcy is a matter of fishing fact with a whole lot more Chapters, coming soon too many numerous fish plant's near you.

"The debtor was a major fish processing company with extensive facilities in Alaska. These operations, insofar as employment of labor is concerned, were of a seasonal nature. The employees, for the most part, worked intensively during a few months...On June 16, 1980, the trustee for the NEFCO estate entered into an agreement with Ocean Beauty whereby Ocean Beauty, a subsidiary of Sealaska, an Alaskan native corporation, agreed to purchase certain assets of the estate (hereinafter the "Purchase Agreement"). The Purchase Agreement, as modified in February, 1981, obligated the trustee to sell these assets to Ocean Beauty, free and clear of various claims including those in Domingo and Carpenter for $15,156,371.