MARYSTOWN — Financial advisory firm Deloitte will review the finances of a troubled fish processing plant on Newfoundland’s south coast.
Provincial Fisheries Minister Clyde Jackman says Deloitte will examine the Marystown plant’s finances since Ocean Choice International acquired it from the former Fishery Products International Ltd. in 2007.
The plant has struggled with economic challenges in recent months, including the high Canadian dollar and high price of fuel.
Jackman says the review will help provide insight about the plant’s difficulties, its future prospects and the possibility of operational or financial changes.
As part of its acquisition, Ocean Choice agreed it could only close the facility if it incurred losses with no reasonable prospect of overcoming them in the future, and on the condition that those losses were not the result of the company’s decisions.