Edinburgh Salmon Co to close at year end

THE Edinburgh Salmon Company (also known as ESCo) has announced that it is to close its production centre at Dingwall in the Highland, with the loss of more than 250 jobs.
The site had been experiencing heavy losses and the owners, Européenne de la Mer, a subsidiary of the global seafood giant Thai Union, warned two months ago that the site may have to go.
The factory, which produces smoked salmon products, will close at the end of the year.
Européenne de la Mer said last night it regretted the closure but, in the face of challenging markets, the plant was suffering ‘heavy losses’. It said it had found no other alternative to closure.
The Ross-shire processing plant employs 163 staff workers, and up to 100 temporary workers.
Following the closure of the Young’s Seafood owned Pinneys salmon plant at Annan a few weeks ago, it means that Scotland has lost at least 700 seafood jobs so far this year.
In a statement, the owners said: ‘At this time, our primary concern is the future of our employees and we are now entering into an individual consultation process with each of them. We are making every possible effort to support them in their search for alternative employment.
‘We are exploring all opportunities and are working with the Scottish government and local enterprise and skills agencies to identify employment options in the local area.’
ESCo said it will ‘maintain the necessary employees’ to fulfil all current contracted obligations which run until the end of the year.
The company has blamed high salmon prices for its problems. The accounts recently revealed that turnover for the year to December 30, 2016, was just over £44 million compared to £27.273 million for a nine-month period in 2015. But the cost of financing these sales (the outgoings) was £44.8 million.
The company made a comprehensive loss of £6.861 million last year and a pre-tax loss on ordinary activities before tax of just over £7 million.

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