Seafood processor Sealord Group has insisted it is in “stable financial shape” despite planning to axe 97 jobs at its Nelson wet fish processing site in New Zealand.

The firm said the factory was “not economically viable” in its current form and it had started talks with employees about streamlining the site.

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“We need to make improvements now to ensure Sealord’s ability to grow and invest in operations in the future as we increase our focus on fresh and chilled products,” Sealord said.

Sealord has proposed operating a smaller wet fish operation “focused on higher value” products.

The firm said it will continue to invest in processing in Nelson and is “optimistic” regarding the growth of its fresh fish business.

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