By Jobs hang in the balance over factory closure
Almost 200 jobs which were expected to be lost could be saved as a potential buyer emerges for the Icelandic Seafood factory in Grimsby.
The facility announced last month that it would be closing in a major blow to the town.
Sadly the factory has recorded a staggering £8 million in losses. Bosses have blamed its tragic end Brexit, the pandemic, and Russia’s invasion of Ukraine, stating that they are pulling out of the UK entierly to focus on European operations.
Now, a potential buyer has emerged offering hope to the hundreds of people employed at the factory.
According to reports Iceland Seafood International (ISI), which owns the plant, has signed a “Letter of Intent” with another company to take over its UK subsidiary.
This does not guarantee a sale, but it is hoped that a deal will be reached.
In a statement released by the company today, chief executive Bjarni Ármannsson, said: “Further to Iceland Seafood’s announcement on November 17, Iceland Seafood has today signed a Letter of Intent with a respected industry player to sell its subsidiary Iceland Seafood UK Ltd.
“The [letter] is a legally non-binding document but its provisions will serve as key terms in the event of the potential transaction.
“The parties have agreed to run a swift due diligence process with the aim to complete a binding agreement before the end of December.
“Further update on the progress made in relation to the proposed transaction and its financial impact on Iceland Seafood will be provided as appropriate.”
(Photo: PPH Commercial)
