Five Star Fish, a subsidiary of British Seafood Group, has entered administration due to concerns over the financial position of its parent company.

British Seafood’s subsidiaries Bloomsbury International, British Seafood Ltd, British Seafood Holdings and the British Seafood Processing Group were placed in administration last week.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Administrators Deloitte said that they were undertaking a review of the entire businesses.

It was disclosed yesterday (2 March) that a GBP150m (US$225,6m) hole has been found in the finances of the seafood supplier.

Meanwhile, Grimsby-based Five Star had continued to trade normally but Deloitte confirmed this morning that Five Star will now also be run by the financial group until a buyer is found.

“We believe Five Star is a sound, profitable business, which unfortunately has had to enter administration due in part to concerns over the financial position of the wider British Seafood Group,” Matt Smith, one of Deloitte’s three administrators, said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Five Star, which supplies foodservice and retail customers, operates as a stand alone venture with an independent management team, Deloitte said.

“Our initial focus is on working with employees, customers and suppliers to stabilise the trading activities of the company. We are hopeful that a successful sale of the business as a going concern can be achieved in a relatively short time frame,” Smith added.

British Seafood acquired Five Star for GBP35m in 2007. The company employs 332 people at its processing facility in Grimsby, which last year unveiled a GBP7m expansion project.