- news, features, articles and disease information for the fish industry


Pescanova Trys to Solve Debts and Files for Pre-Receivership

04 March 2013

SPAIN - Pescanova, a Spanish seafood manufacturer which owns salmon farms in Chile, has filed for pre-receivership, a debt restructuring option.

Pescanova currently has debt of €1.522 billion, eight times its annual operating profit, reports EL Pais.

The newspaper stated that by entering pre-receivership, the company is allowed three months to try to refinance its liabilities. The National Securities Commission (CNMV) on Friday 1 March suspended trading in Pescanova’s shares.

In a statement filed last week with the CNMV, El Pais reports that Pescanova said it would not be filing its earnings report for last year after its auditor threw into question the viability of the company as a going concern. It said it was either looking to sell salmon fish farms it owns in Chile or file for pre-receivership.



TheFishSite News Desk

Our Sponsors


Sustainable Aquaculture Modular Courses AVAILABLE NOW - University of St Andrews

Seasonal Picks

Know Your Freshwater Fishes - 5m

Aquacullture Webinars from TheFishSite - Sign Up Now