The Tragedy of Sea Products

The cessation of operations of N. Z. Sea Products (Export) Ltd and its passing into receivership is indeed a tragedy-the more so since, like many tragedies, it might have been averted. Many and varied are the reasons expounded for the company's failure – a lack of capital; a lack of intimate knowledge of fishing and fish processing; mismanagement; poor catches of fish; the dumping of fish on the Australian market at an uneconomic price; the size of the big trawlers, and overstaffing. Probably all these factors, singly or collectively, contributed towards the company's downfall. But the tragedy remains.

The two 138ft trawlers are tied up awaiting their fate; a receiver is in command; the factory is idle, the staff have lost their jobs; unsecured creditors stand to lose heavily and shareholders have little hope of recovering the capital which launched the enterprise. As well, Nelson and New Zealand has lost, for the time being at least, an industry they can ill afford to lose.

As we go to press, efforts are being made to get shareholders to back the venture with more money and there has been talk of overseas interest in the company. Along with all sections of the community, we sincerely hope these efforts will bear fruit.

Our pix show the factory (above) and the two 300-ton trawlers (left) tied up at the wharf.

The filleting tables, nucleus of the fish processing plant and the scene of feverish activity while the factory was operating, are now empty.

The last pay day for the last section of the staff of 125.

After being paid, about 40 members of the staff marched to the Labour Department office in protest at the Government's refusal to keep the factory operating for another week, during which time it was hoped to interest a firm of West Germans in the company as a going concern.

A rather poignant moment as staff members wish each other well in new jobs.

The empty smoke house – a wonderful piece of equipment which, according to one man, produced the most delicious smoked fish he had ever tasted.

The fish meal plant, source of an unpleasant aroma, was one department which paid its way. Demand for the meal was extremely heavy.

Shareholders Edward Nudd and Bill Davis-Goff discuss the agenda for a meeting of Nelson shareholders, with chairman, Colin Neale.

Management of the factory attended the last pay-out to employees. At right is the managing director, Mr J. C. Treadwell, and second from left is the receiver, Mr H. F. Foster.

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The Nelson Photo News

No 96 : October 19, 1968

The Tragedy of Sea Products