Outgoing CEO Bjorgolfur Johannsson told IntraFish Wednesday that while a planned sale of the frozen fish manufacturing division to Icelandic Group Europe CEO Finnbogi Baldvinsson fell through in mid-December, the company still is considering selling off the division as part of an effort to lower the company's debt and refocus on core areas such as the United Kingdom and Europe.

"We are going to look at possibilities," Johannsson said.

Icelandic Group announced Wednesday it would sell the U.S. arm of Ocean to Ocean to Singleton Fisheries, and said that earlier its shuttered Cambridge, Md.