Salmon market analysts delivered a scathing assessment of the outlook for US land-based producer Atlantic Sapphire after the company said it expects to rely on support from major shareholders after breaching minimum liquidity requirements linked to loans on its farm in Florida.
The development came after the salmon farmer reported lower revenue for the first half of 2023 caused by weaker-than-expected production because of water temperature issues at the farm.
It is the latest in a string of setbacks that have dogged Atlantic Sapphire over recent years, and now executives need fresh funding to keep operations running.
