IntraFish understands Shin Nihon Global (SNG), an importer of both crab and salmon to Japan and a distributor of fresh and frozen seafood, has until Aug. 18 to find a buyer after filing for Chapter 11 bankruptcy in March.
The company applied applied under Japan's Civil Rehabilitation Law for relief with debts of ¥12 billion (€91 million/$123 million). Since then, Nippon Ham emerged as likely buyer.
The group owns subsidiaries in Germany, France, U.K. and the Faroe Islands. A Europe-based spokesman for the firm told IntraFish a deal must come soon.
“I
