German frozen fish giant Pickenpack filed for voluntary bankruptcy at the district court in Luneburg Wednesday.
The reason for the move is a legal dispute at parent company Pacific Andes as well as its inability to pay invoices, reported Lebensmittelzeitung.
Rising raw material prices and squeezed margins in the German fish finger market are also seen as factors, the newspaper suggested.
An industry source confirmed the news to IntraFish, saying "a wave is currently going through the German whitefish market. Customers are very nervous."
According
