View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 28, 2018

Thai Union Group mulls sale of UK arm Edinburgh Salmon Co.

Thai Union Group is mulling a sale of its UK subsidiary the Edinburgh Salmon Company amid "heavy" losses and "highly challenging" market conditions.

Thai Union Group is mulling a sale of its UK subsidiary the Edinburgh Salmon Company amid “heavy” losses and “highly challenging” market conditions.

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

The Bangkok-listed seafood giant and owner of the John West tuna brand, said in a statement: “The company will actively pursue and explore all viable divestment opportunities in an attempt to avoid, reduce, and/or mitigate the potential impacts upon its valued employees”, with the closure of the Edinburgh Salmon (ESCo) business another possibility.

ESCo is located in Dingwall, Scotland, and its business activity mainly revolves around smoked Salmon products. It comes under the remit of Thai Union’s holding company Européenne de la Mer based in France.

Employees were informed of the decision on Thursday (27 September), and ESCo’s customers and suppliers are also now being notified.

A 45-day consultation period is planned to assess all alternatives.

Thai Union, which first invested in Edinburgh Salmon in 2014, added that, after an ongoing review, along with significant investment in the UK business and what it called structural changes, “ESCo continues to suffer heavy losses as a result of highly challenging market conditions and industry trends”.  

According to filings posted with London-based Companies House, ESCo reported a loss of GBP5.2m (US$6.6m) last year, after losing two significant customers, and GBP6.8m in 2016. It had net liabilities of GBP4.3m and assets amounting to GBP868,550.

Related Companies

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food