DAVID Hunter, Head of Corporate Recovery at Campbell Dallas, has announced that as the administrator for Kinloch Damph Ltd, he is to commence the construction of a new road to service the fish farm purchased earlier this year by Scottish Sea Farms Ltd and is to grow and harvest 500,000 salmon in the Shetland Isles.
The fish farm and the Couldoran Estate were home to the Scottish independent smolt producer, Kinloch Damph Ltd which went into administration last year as a result of the decline in salmon prices in the UK.
The construction of the road will allow direct access and maintain employment at the fish farm. The new owners, Scottish Sea Farms, have already indicated they intend to expand their operations there.
In addition, an application has been made to the court to extend the administration period to two years in order to allow the administrator to grow and harvest 500,000 salmon in the Shetland Isles, which were taken over from local company Hoove Salmon Ltd – now in receivership – when Hoove were unable to pay Kinloch Damph Ltd for them. Hoove employees are continuing the feeding and management of the farm in Shetland, while the administrator of Kinloch Damph Ltd is ensuring their payment and overseeing the running.
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