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Russian Salmon Producer Files for Bankruptcy

Salmonids Economics +2 more

RUSSIA - Russian Salmon is to file for bankruptcy following losses of 1.5 billion rubles due to mass fish deaths and the collapse of the country's currency.

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Russian Salmon will now apply to the Arbitration Court of the Murmansk region for the recognition of its bankruptcy.

Russian Salmon, which operates in the Murmansk region, is Russia's largest Atlantic salmon producer and a subsidiary of Baltiysky Bereg (Baltic Coast).

Speaking to Vedomosti, Baltic Coast Director of Development, Anna Shevelev, explained that this move is not liquidation or the termination of activities but is instead part of the financial recovery of the company.