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Wells Fargo Bank, the single biggest lender to beleaguered Peter Pan Seafoods, has filed a legal request to have the company moved into receivership.
Processors are going out of business, fishermen are scrambling to upgrade equipment to meet higher standards, and politicians are at odds about what to do.
We told you this week that Peter Pan Seafoods is closing its plant in King Cove. But now, we've learned the situation is much bigger than that.
The fate of Peter Pan’s plants had been cast into doubt amid unpaid financial claims and news that some were defecting to other processors.
Silver Bay Seafoods has acquired Peter Pan Seafoods’ seafood processing facility in Valdez, Alaska, and will operate its other Alaska plans in 2024.