FRP appointed as innovative Highlands seafood business goes into liquidation
Coast and Glen Limited, a Highlands-based seafood and game business that had grown rapidly in recent years, has been placed in liquidation.
Founded 2011, the company supplied fresh fish and game to hotels and restaurants across the UK and had also been expanding direct sales to consumers.
Its customer base stretched from Orkney to Devon and included Michelin-starred restaurants.
The business, which sourced its supplies from independent fishing boats, operated from fully-fitted leased premises in Alness, which included fish processing, packaging and kiln-smoking facilities.
Coast and Glen, which employed 9 staff, had also acquired a new 2600 sq ft factory in Muir of Ord.
Turnover was around £1.4m, and the managing director had won two prestigious business awards.
The company was placed in voluntary liquidation as a result of unsustainable cash flow problems stemming from rising costs, intense competition and very low margins.
The business has ceased trading and the liquidator, Iain Fraser, partner with FRP Advisory, is seeking buyers for the assets.
Mr Fraser said: “Coast and Glen was a progressive, entrepreneurial business that had grown rapidly and was rolling out ambitious expansion plans. However, the business ran into financial problems and liquidation was the only available option. Unfortunately, all 9 staff have been made redundant with immediate effect and we are working closely with the relevant agencies to ensure they receive as much support as possible. We are also now marketing the assets of the business for sale and would urge interested parties to contact our Aberdeen office as soon as possible on: 0330 055 5455.”