Popular food brand files Chapter 7 bankruptcy, heads to liquidation
With private companies, the end can be more sudden. That’s especially true when the company isn’t consumer-facing like a wholesaler or a manufacturer. Blue Harvest Fisheries may not be a name everyone knows, but it was a massive operation that was intended at its 2015 creation to dominate the New England fishing industry. That was a bold goal that it never achieved. And now, after suspending its fishing operations in September, the company has filed for Chapter 7 bankruptcy and appears headed toward liquidation. The company, which sold fish to a number of grocery chains around the country, had a bold mission statement. Blue Harvest vendors, workers face bad news. Under a Chapter 7 filing, a company’s assets will be liquidated and used to pay off creditors. “No property appears to be available to pay creditors,” >>click to read/comment<< 15:48
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