Italian smoked salmon producer Fjord is in the process of being sold via a sales tender, after the "unsustainable" and "disastrous" situation in the salmon market forced it to file for Chapter 11 (diritto fallimentare, article No. 161), an unnamed source at the company told IntraFish.

The procedure was initiated by the court of Busto Arsizio in December, and interesting parties can submit offers by 12:00 p.m. CET on April 5, he said.

Offers are only accepted with a upfront deposit of 20 percent of the company's debt, which will have to be paid to creditors, should it be accepted.

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