Interest expressed in Albert Fisher Group
factories put into receivership by the financial problems of the
Albert Fisher Group can be saved.
The UK government has expressed "cautious optimism" that fish factories put into receivership by the financial problems of the Albert Fisher Group can be saved.
Scottish parliamentarian Stewart Stevenson commented: "The factories in Fraserburgh and Peterhead have been trading profitably for some time and are in fact on a rising curve for profitability. In both Peterhead and Fraserburgh, recruitment of new staff is continuing and the receivers have indicated they have had approaches from a number of buyers and the first of those buyers will be visiting the factories during the course of this week during their assessment process."
According to Mr Stevenson, there had been considerable interest expressed from a variety of sources for both purchase of the whole group and for the fish processing division.
"The company, and particularly the fish processing, has good prospects. It has a good order book. The customers of the fish processing division - all the majors have so far indicated that they are sticking with the company - are obviously in an uncertain situation so we have to watch that one carefully."
Mr Stevenson said that all Fisher Food's major suppliers were "standing by the operation" and the smaller suppliers who had been contacted were also keeping faith.
He added that the receiver had taken steps to allow the factory to "ensure continuity of supply of good quality fish" despite evidence that the cash shortage affecting the group as a whole had started to put pressure on the processing businesses.
Blair Nimmo of KPMG said that there had been a "fairly positive response to date" but said it was difficult to say whether the group would be sold as a whole or split up. He confirmed there was considerable interest in the whole business and the individual parts.
"Clearly, it would be ideal if you could sell it together because it would be a much faster sale, but quite often you obtain more for the parts than you do for the whole lot," he said.
Mr Nimmo added that it was "early days" for assessing the profitability of each business, and that he was unable, as yet, to confirm if the fish processing plants were, indeed, profitable.
