South Shore Group: going concern business or assets
Insolvency Insider
November 20, 2023
Deloitte Restructuring Inc. in its capacity as monitor, of South Shore Seafoods Ltd., Captain Cooke’s Seafood Inc., By the Water Shellfish (2012) Inc., South Shore Seafoods International Ltd., Can-Am Lobster and Shellfish Ltd., Bridge Lobster Limited and Arsenault’s Fish Mart Inc. (collectively the “South Shore Group”) is launching a Court-approved sale and investment solicitation process for the purpose of soliciting proposals to purchase the going concern business or assets (the “GCB&A”) of the South Shore Group. The GCB&A’s include, but are not limited to, three lobster processing facilities (aggregate production capacity 140,000 lbs), two lobster holding facilities (aggregate live holding capacity 640,000 lbs), processing equipment, eight apartments (previously used to house workers), two buildings at wharfs and various motor vehicles. The processing/holding facilities are located in Prince Edward Island and Nova Scotia which accounted for 65% of Canadian lobster landings in 2021 and provides significant access to raw material sourcing across all four seasons. Please contact Ian Lewis ([email protected]) for more information.