Scotland-based Dawnfresh Seafoods, one of the UK’s largest producers and processors of fish and seafood, has entered administration after being unable to overcome "very serious financial problems."
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The business has suffered from rising costs, overcapacity at its Uddingston site and unsustainable cash flow, with administration being the only option, the company said Tuesday.
The administrators handling the liquidation of the company already secured a sale of the group's Arbroath, Scotland facility to Lossie Seafoods Limited, a subsidiary of Associated Seafoods Limited, in a deal that included the transfer of all 249 staff.
