Cumbrian Seafood, which employs 457 people in the North East, has entered administration and been bought by Young's Seafood. The move is expected to safeguard the jobs, which are split between the Seaham HQ and subsidiary site in Amble.
Responding to the news, North East Euro MP Fiona Hall said,
"This has clearly been a difficult time for the company and it is a real shame that it has been forced into administration. However, I welcome the swift transition to new ownership. This prevents weeks or months of further uncertainty for the staff.
"More than 450 local jobs depend on the success of this deal. If it safeguards the long term future of the sites at Amble and Seaham, it will prove to be very good news."
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