Last week saw Pickenpack Europe -- one Germany's biggest frozen fish suppliers -- enter voluntary bankruptcy proceedings.
A legal dispute at parent company Pacific Andes as well as its inability to pay invoices were named as the main factors for the company entering the proceedings, in addition to rising raw material prices and squeezed margins in the German frozen whitefish market.
New market data shows another reason might have added to the unsustainable mix: A declining frozen whitefish market.
The move into chilled modified atmosphere packaged (MAP) fish by discounters and retailers has been hailed as a white knight to rescue the stagnant German fish and seafood consumption.
Independent
