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A seafood processor from the Îles-de-la-Madeleine in serious financial difficulty

August 21, 2022 Canada, International

With an estimated debt of between $3.5 million and $4 million to its lobster fishermen, the Madelinan seafood processing company LA Renaissance des Îles (LRDI) has decided to place itself under the protection of the Act respecting the ‘insolvency. This is what the president and CEO and sole shareholder, Lynn Albert, announced to the fishermen who supply her with lobster, during an information meeting held on Friday morning, learned the QMI Agency. LRDI is in default of payment for its dockside purchases from 66 fishermen for the last two weeks of the 2022 fishing season, totaling $3.7 million. Added to this are, among other things, deductions for government rebates and other operating expenses of fishing businesses. >click to read< 07:34

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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