Icicle Seafoods sale cancelled

Icicle Seafoods owner Paine & Partners announced Sept. 4 that the sale of the company to buyers Dominion Catchers, LLC and Convergence Holdings, Inc. has been cancelled. The sale was anticipated to close in August and was announced in late June. Company representatives declined to comment further on the reasons for the cancellation. Some online industry sources have speculated that a provision in the American Fisheries Act which requires U.S. citizens to have 75 percent ownership and control of commercial fishing vessels 100 feet or greater in length may have played a role in the sale’s termination. Read the rest here 18:23