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June 1, 2018

UK’s Young’s Seafood confirms closure of Scottish site

British frozen fish company Young's Seafood has confirmed its Pinneys site in Scotland will close.

British frozen fish company Young’s Seafood has confirmed its Pinneys site in Scotland will close.

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  • Five-year forecasts and the impact of COVID-19
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  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
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Young’s announced in April it was planning to exit deli and meals production from the site in Annan, Scotland, saying the operation is no longer financially sustainable.

But it said it would be entering a period of collective consultation on the decision which would affect 450 jobs.

Now it has confirmed the closure. It said in a statement: “Following a review of our UK operations, the company proposed to move the remaining natural salmon production undertaken at the Pinneys site to Young’s existing natural salmon facility at our Humberstone Road site in Grimsby. Under the proposals, the Pinneys site in Annan would close towards the end of 2018.

“Unfortunately, having explored this in detail for some time and despite the consultation process, we have not been able to agree any viable alternatives to the closure of the Pinneys site. Accordingly, the company now intends to progress with its initial proposals.”

Young’s said in April it will need to recruit up to 250 people at sites including Grimsby, its home base in eastern England. It said employees at Young’s Pinneys would be given preference over new recruitment.

The company also has another facility in Annan.

In its latest statement it added: “The decision to close the Pinneys site does not mean that collective consultation has ended. We intend to continue to meet with employee representatives on a fortnightly basis to discuss ongoing items, including redeployment opportunities.” 

Young’s was put up for sale in April by its owners – investment houses Lion Capital, Bain Capital and HPS Investment Partners.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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