Tag Archives: Rodger May
Original Peter Pan Seafood investor wins auction for troubled company’s assets
One of the original investors in a troubled Alaska seafood company has narrowly outbid competitor Silver Bay Seafoods in an auction for the firm’s assets — including a major processing plant in the Alaska Peninsula village of King Cove. Rodger May, an entrepreneur and fish trader, bid $37.3 million for the assets of Peter Pan Seafood, including two other processing plants — one in the Bristol Bay hub town of Dillingham and another in a remote part of the Alaska Peninsula called Port Moller. May’s bid was $257,000 higher than the bid offered by Silver Bay Seafoods, a major Alaska seafood company that’s expanded rapidly in recent years. The sale of Peter Pan, which operates primarily in Alaska with a business headquarters in Washington, isn’t final. A confirmation hearing in Peter Pan’s receivership case — a bankruptcy-like proceeding overseen by a Seattle court — is scheduled for Oct. 3. more, >>CLICK TO READ<< 11:36
Peter Pan’s King Cove plant will stay closed this winter as fishing industry turmoil spreads
In a major hit to Southwest Alaska’s fishing industry, Peter Pan Seafood Co. will keep its huge plant in the village of King Cove shuttered this winter, meaning that the company won’t be processing millions of dollars’ worth of cod, whitefish and crab. “It’s one of the most difficult days of my life,” Rodger May, one of the company’s owners and a longtime player in the seafood industry, said in a brief interview Thursday. “It’s just a devastating time for the industry.” The closure is the latest sign of the widening turmoil in Alaska seafood markets, which are contending with depressed global demand across many different species and intense competition from producers in Russia. more, >>click to read<< 13:39
