570 jobs secured with Young’s Cumbrian acquisition

Cumbrian’s subsidiary firm Border Laird has also been bought by Young’s following the firm’s decision to go into administration on December 5.

A spokesman for administrator PricewaterhouseCoopers (PWC) said: “It remains business as usual for customers and staff​”. All jobs will also be transferred, according to PWC, enabling “the continuity of supply to customers in the run up to Christmas​”.

Raw material costs​

Cumbrian employs 378 people in Seaham, County Durham, with a further 117 in nearby Whitehaven. Border Laird also employs 79 people in Amble, Northumberland.

Rising raw material costs and reductions in activity played a key role in the firm’s decision to go into administration, according to PWC.

Peter Vassallo, chief executive of Cumbrian, said: “While I recognise that it is a difficult time for all concerned, this transaction is in the best interest of our employees and customers​.”

Leendert den Hollander, chief executive of Young’s Seafood, said: “This is the beginning of a process and the teams involved will work hard to understand the business and consider in detail how best to take the customer contracts forward. Our focus is on customers - on fulfilling their contracts - and consulting with new employees on possible options for the future​.”