November 22, 2022 6.00 am This story is over 17 months old

Seafood firm with Grimsby factory will exit the UK market

A big blow for the North East Lincolnshire town

The owners of a fish processing facility in Grimsby said the site is no longer “a strategic fit”.

After announcing plans to exit the UK market “from a value added perspective” and reportedly recording losses of £8 million, Iceland Seafood UK will be shutting down its Grimsby operations.

Iceland Seafood UK invested in operating facilities in Grimsby and merged its operations from Bradford and the North Lincolnshire town into this location, which employs almost 200 workers, according to The Guardian.

Bosses have blamed factors including Brexit and the coronavirus pandemic after losses of £8 million were revealed for the first nine months of the year.

Iceland Seafood International will now pull out of the UK and will focus on its European operations.

In a statement it said: “The investment and decision of the merger was completed in March 2020, just before Covid-19 started, and the renovation and installation of the factory was very much affected by Covid and later Brexit along with difficulties in overall operations.

“Iceland Seafood has now decided that it plans to exit this market from a value-added perspective and has mandated MAR advisors to support the process.

“Although it has been concluded that the UK operation is not a strategic fit for Iceland Seafood anymore, the excellent facilities and strong management team in Grimsby can be a great addition to other companies in the sector.”

The former Five Star Fish facility was previously run by the company founded by ex-Grimsby Town chairman John Fenty. A total of 380 roles were lost when it finally closed in 2018, according to Grimsby Live, before it was taken over by Iceland Seafood UK in 2020.

The company then reopened and merged it with operations from Bradford and Grimsby.

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