Tag Archives: New Bedford’s groundfish fleet
Blue Harvest to shut down, ending reign over New England groundfish
Blue Harvest Fisheries is set to shut down all fishing operations on Friday, its fishermen were told this week. It marks the last in a cascade of sales and closures for the billionaire-backed business venture that once aimed to “dominate” the New England fishing industry but ended up overcapitalized and belly up on the dock. The company launched in 2015, flush with private equity capital, and expanded at a rapid clip to become the single-largest groundfish permit holder in New England. It still owns the permits and vessels, but seafood industry sources say, after the shut down, a quick sale or bankruptcy filing is likely. “A big rise leads to a big fall,” said Luke deWildt, captain of the Teresa Marie IV, >>click to read<< 07:52
