Fishing for a buyer: bankrupt company close to sale

German subsidiary is continuing to trade despite parent collapse

The parent company of Larsen Danish Seafood, which produces many fish products popular in Danish supermarkets, went bust in November. Børsen reports that there is now a race against time to find a buyer for the trading company, now registered as a German entity. The Danish liquidators hope to complete a sale within the month.

Structured sales process
Christian Tornvig Jensen, a lawyer at Elmann Advokatpartnerselskab, which has been named as the liquidator of both the parent company and the holding company, told Børsen that steps were being taken to find a buyer for the trading company.

“A structured sales process is ongoing,” he said. “The German consultancy Rödl & Partner is working to identify possible buyers.”

Jensen told the newspaper there had already been interest from several parties, including both Danish and overseas companies, and that he expects the assets to be transferred by mid-February.

“As things look now, there will continue to be Larsen Danish Seafood products in Danish supermarkets – also for Easter lunches,” he said.

The company used to employ 100 people in Denmark, but five years ago, production was moved to Germany.