Tag Archives: Crystal Ice
Blue Harvest bankruptcy leaves millions in unpaid debt to local businesses
For Blue Harvest and Bregal Partners — which is part of a fund with over $18 billion under management — the $50,000 or so owed to Bendiksen is a small fraction of the debts the company had racked up during its eight-year roll up of the New Bedford fishing industry. But for Bendiksen, he said the notice that he will not be paid spells a serious financial blow. And he’s not alone. More than 1,000 independent contractors and companies will be left holding the bag as the private-equity backed fishing venture goes belly up, according to a list of creditors published in the bankruptcy filings. It includes many fishermen who had worked for Blue Harvest and countless small businesses on the New Bedford waterfront: welders, mechanics, supply stores and shipyards. >>click to read<< 11:20
New Bedford: Industry on the Brink
Two computer screens lit Richie Canastra’s windowless office. The co-owner of BASE (Buyers and Sellers Seafood Exchange) seafood auction scrolled through scores of financial data associated with commercial fishing landings at 62 Hassey St. The numbers that starred back since NOAA implemented a groundfishing ban last November tell a dark story in an industry already struggling to survive. “With the ban, if we’re not up and fishing by May 1, you might as well just call (groundfishing in New Bedford) over,” Canastra said. >click to read<22:52
