On Friday, a Chilean court declared that Pesca Chile was officially bankrupt.
Pesca Chile, a subsidiary of Pescanova, is a fishing company that operates eight vessels. It is the parent company of Acuinova Chile and Nova Austral, which are salmon farming operations in Chile.
The company is in debt to the tune of USD 70-million owed to eight different banks, which led to HSBC bank’s request for bankruptcy of Pesca Chile in early April.
Pesca Chile is located in Porvenir, and is the source of employment for over 500 workers in operations. According to Drago Covacic, the manager of of Nova Austral, “This was announced a few days ago; it is what was said to the trade unions and it has not changed [since then]. The processing of the bankruptcy will continue its process now.”
