A beleaguered seafood processing company has been stung for having "insufficient insurance cover", after its site was destroyed by fire last November.
The news came as The Blue Sea Food Company received retrospective planning permission for its rebuilt unit at Torbay Business Park in Paignton, Torbay. The new building, without processing equipment, will cost about £800,000. "It will cost us a further £500,000 to fit out and equip the factory, which would not have been a problem had we been fully insured," said Trevor Bartlett, landlord and one of the owners of the seafood company.
"The work on the building is nearly finished. However, we cannot afford to move back into the site until the full extent of the insurance payout is realised. Unfortunately we were under-insured in some areas of the business. Until we are certain of our future we will need to let the proposed factory unit to someone else."
Last year, it took more than 50 firefighters several hours to put out a fire at The Blue Sea Food Company, which devastated the building, factory equipment and stock. The firm estimates the disaster cost it more than £0.75M.
Following being out of production for six months the company now operates from the former Browse Bros premises in Torbay, after it acquired the crab processing firm in May. Excluding its retail outlets, the company is almost back to former trading levels.