Pinneys’ parent company for sale

The group includes both the threatened Pinneys site and the long-established Young’s scampi factory in Port Street, which recently announced plans to create 50 permanent new jobs.

A spokesman for the parent company said: “We have sent out notification that we intend to start a structured and open bidding process with all interested parties for the sale of the Young’s Seafood group.

“Young’s Seafood is the UK’s leading seafood supplier, with a 200 year heritage and a turnover of over £500 million.”

There were immediate calls from a number local politicians for the closure of the Pinney site to be postponed until any new owner of the company was in place and had a chance to review the decision.

The current owners of Young’s Seafoods Ltd are venture capitalist investors Lion Capital, Bain Capital and HPS Investment Partners.