Cumbrian Seafood Ltd. and Border Laird Ltd. have gone into administration but have immediately been sold to a new owner.
The companies, headquartered in Seaham and with sites in Northumberland and Cumbria, got into problems with rising raw material costs and reductions in activity.
The business has been bought by Lion Capital, which owns Young’s Seafood.
Sean Hamilton, director at PwC in Newcastle, which handled the administration, said: “The sale means that it remains business as usual for customers and staff.”
