China Fishery Crashes, Enters Liquidation, After Cash Shortfall due to Low Peruvian Anchovy Harvests
SEAFOODNEWS.COM by John Sackton - November 30, 2015
China Fishery, the subsidiary company to Pacific Andes Group, which spearheaded their rapid expansion in the Peruvian fishmeal sector, has crashed.
The company missed a $31 million payment on a $650 million 'club loan' (multiple lender credit line), that was originally due at the end of September. According to Standard and Poor's, the company negotiated multiple extensions with lenders to avoid ...
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