Morningside, Queensland, Australia-based seafood firm A. Raptis and Sons is set to close after nearly 70 years in operation.
The firm, which specializes in wild-caught prawn products and is among Australia’s largest privately owned, vertically integrated fishing companies, went into voluntary administration in early March, citing a particularly weak banana prawn return last year and external market factors such as oversupply and rising costs.
According to the Australian Broadcasting Corporation (ABC), the administration process attracted some interest early, but no buyer came to fruition, leading to the eventual decision to shutter operations.
The move is expected to eliminate more than 200 jobs across South Australia and Queensland, per ABC.
Besides the axing of jobs internally, the firm’s closure has also left the businesses of several other tangential operators in jeopardy.
ABC highlighted the company’s operations in the small town of Karumba on the Gulf of Carpenteria, where Raptis provided business for fuel suppliers, warehouse operators, and various retail and foodservice clients.
“It's like a kick in the guts for the whole industry,” Malanda Seafood Manager Karen Miller told ABC. “I think it's a bigger message to all of Australia. With the rising production cost of Australian seafood, it's never been more important to support local seafood.”
The firm’s roots go back to Greek migrant Arthur Raptis Sr., who sought work in Australia’s fishing industry in the 1930s. After relocating to Adelaide, his family opened a fish-and-chip shop in the 1950s. They then began filleting catch for local shops and eventually expanded into wholesale and retail business.
At its operational peak, A. Raptis and Sons operated nearly 20 commercial vessels across multiple fisheries, including Australia’s Northern Prawn Fishery, the Gulf of St. Vincent Prawn Fishery, the Great Australian Bight Trawl Fishery, and the Northern Territory Demersal Trawl Fishery. The company’s product portfolio included the Ocean Pearl, Seaport, and Agrios brands.
