Court Approves Red Lobster Bankruptcy Plan; Over 500 Restaurants to Survive

Seafood restaurant chain Red Lobster announced that it has received court approval for its Chapter 11 bankruptcy plan.

As part of the plan, RL Investor Holdings will acquire the chain. RL Investor Holdings is an entity created by funds managed by  affiliates of Fortress Investment Group LLC, alongside co-investors TCW Private Credit and Blue Torch.

The deal is expected to close by the end of this month, per a statement from Red Lobster.

The sale also means that Red Lobster will remain an independent company with 544...

Record U.S. Snow Crab Imports Surge Amid Strong Demand

Canada has harvested nearly 100,000 metric tons of snow crab during the 2024 season. Favorable prices have driven strong demand in the U.S., with the May imports of snow crab reaching a record 35.152 million pounds. This is the highest monthly total since 2019. The pace of U.S. snow crab imports from all sources exceeds the record-setting pace of 2023.

Through July the U.S. imports of snow crab from all sources have reached a record 110 million pounds, representing a 3.7% increase compared to last year. Canada remains the dominant...

Whittier Seafood Files for Bankruptcy; Citing Ukraine War, Salmon Market Downturn

Alaska-based seafood fishing and processing company Whittier Seafood filed for bankruptcy last month with the owner citing impacts of Russia’s invasion of Ukraine and volatility within the wild salmon market in Alaska.

According to a Chapter 11 bankruptcy filing in U.S. District of Alaska Bankruptcy Court, Whittier Seafood owner Alexey Kozlov said Whittier and affiliated companies were hit hard by a dramatic drop in salmon prices in recent years.

“The salmon market has historically experienced price fluctuations with lows...

Shrimp from Thailand Removed from Labor Department’s Forced Labor List

The Department of Labor (DOL) announced that it had removed shrimp from Thailand from the list of prohibited products linked to forced labor, according to a September 5 notice published in the Federal Register.  

The official list, "Prohibition of Acquisition of Products Produced by Forced or Indentured Child Labor” (E.O. List), was updated after the DOL said it had received proper information from multiple sources that indicated the use of forced labor had dwindled significantly. 

“This information indicates that while children...

Commercial Fishermen Involved in Lawsuit Challenging Natural Gas Project in Louisiana

The Southern Environmental Law Center announced that it has challenged the Federal Energy Regulatory Commission’s authorization of the CP2 LNG liquefied natural gas (LNG) export project in Cameron Parish, Louisiana.

The Law Center said the action was taken on behalf of local commercial fishermen impacted by the project, landowners, Fishermen Involved in Sustaining Our Heritage, and For a Better Bayou, and in partnership with the Natural Resources Defense Council (NRDC).

According to the NRDC, the project was in violation of the Natural Gas Act (NGA) and “illustrates FERC’s failure...

Aramark Celebrates NFL’s International Games with Globally Inspired Cuisine at Stadiums Across U.S.

The 2024 NFL season is upon us, and Aramark Sports + Entertainment (Aramark, NYSE: ARMK) is bringing the spirit of global cuisine to its venues as the league prepares to host five international games in three countries.

Aramark’s partners at the Philadelphia Eagles and Minnesota Vikings will be part of the exciting lineup of NFL International Games, with the Eagles competing on Sept. 6 in São Paulo, Brazil, and the Vikings playing on Oct. 6 in London, England. To celebrate these historic events...

ANALYSIS: July Shrimp Imports Decline Sharply for Second Straight Month

In data released today to kick off H2, U.S. shrimp imports fell double digits for the second straight month in July y-o-y. This was generally expected given the backdrop of outside factors, most notably transportation delays and tariff/duties, but primarily driven by outsized losses from Ecuador. Imports for the month were 134.437 million pounds, down 12.1 percent from July 2023. While India (+0.3%) gained slightly, the rest of the top five fell sharply. Second place Ecuador (-30.5%) led the declines, but they were also seen from...

Sockeye Are Seen Above Landslide Area in Chilcotin River; A Sliver of Hope  for Regional Tribes

The Fraser River, once one of the most productive wild salmon rivers in North America, has been hit with two massive landslides in the past five years. First, on June 23, 2019, the Big Bar landslide in the lower Fraser watershed triggered frantic efforts to clear a path for salmon migrating to their spawning grounds throughout the lower watershed and beyond the landslide to northern central British Columbia. Then, on July 30, another landslide 70 miles north of Big Bar, let loose on the...

Carnival Corporation Has a Two-Pronged Plan to Boost Alaska’s Seafood Industry and ASMI

Carnival Corporation, the global giant in cruising and hospitality, has unveiled a two-pronged approach to help mitigate the economic downturns in Alaska’s primary resource industry — seafood. 

Acknowledging the global economic impacts, including price pressures, that are hurting the the Alaskan seafood market, Carnival’s land and sea operations for their Holland America Line and Princess Cruises in Alaska are using fresh, locally sourced seafood from Alaska in the companies’ land-based restaurants, dining venues, and employee menus. 

Varieties of salmon, halibut, Alaska cod, rockfish, scallops, Dungeness ...

Former Microsoft Executive Mike Quinn to Become COO at Trident Seafoods

Trident Seafoods announced the addition of Mike Quinn, a former exec at Microsoft, as Chief Operating Officer (COO) to its executive leadership team. Quinn will be tasked with leading the seafood giant’s operational strategy and execution and report directly to Trident’s CEO, Joe Bundrant.

Alongside Quinn, Trident Seafoods shook up its executive suite, naming Jeff Welbourn as President – Trident USA, and Kenji Nasu as President – Trident Alaska. 

"The addition of Mike as Trident’s new COO, and the appointment of Jeff and Kenji to new leadership roles within the company...

After Chevron Win, NCLA Asks Court to Drop NE Council's Rue on Atlantic Herring At-Sea Monitoring

Yesterday the New Civil Liberties Alliance (NCLA) filled an amicus brief on behalf of their clients Relentless Inc., Huntress Inc., and SeaFreeze Fleet LLC, to overturn the federal rule requiring North Atlantic herring fishermen to pay for at-sea monitors. The Arlington, VA-based NCLA’s amicus brief was filed with the U.S. Court of Appeals for the D.C. Circuit in Loper Bright Enterprises v. Raimondo. Alongside NCLA's Relentless Inc. v. Dept. of Commerce lawsuit before the Supreme Court last June, the plaintiffs succeeded ...

Washington Senator Holds Discussion at Port of Ilwaco About Future of Commercial Fishing Dock 

U.S. Senator Maria Cantwell (D-WA) hosted a roundtable discussion at the Port of Ilwaco alongside local leaders and stakeholders focused on development projects within the region. 

Cantwell’s office explained that the roundtable also featured discussions on the federal investments to help rebuild the commercial fishing dock that was severely damaged in a fire earlier this year just before the Dungeness crab season kicked off.  

"In the infrastructure bill, we wrote into the Port Infrastructure Development Program…a huge increase...

MOU Will Drive Sustainable Practice in Indonesian Seafood Farms

Aquaculture Stewardship Council (ASC) and non-profit organisation KALEKA have signed a Memorandum of Understanding (MOU) to drive sustainable practice in seafood farming in the Seruyan district of Indonesia through the Improver Programme by ASC.

Under the MOU, ASC will guide the implementation of a jurisdictional Aquaculture Improvement Programme (AIP) in Seruyan in collaboration with farmers and other local and international organisations.

The long-term potential of the project could lead to the development of jurisdictional certification requirements within ASC, allowing seafood farmers in the Seruyan district...

New York Lobster Exporter Accused of Money Laundering, Working to Help Chinese Government

Chris Hu, the owner of New York-based lobster exporter Foodie Fishermen, was arrested on September 3 on charges of money laundering and other crimes. His wife was also arrested on allegations that she acted on behalf of the Chinese government (PRC) and the Chinese Communist Party (CCP).

Linda Sun, Hu’s wife, was charged with violating the Foreign Agents Registration Act, visa fraud and other crimes. Sun worked for the New York State government in various high-ranking positions within the Executive Chamber, allegedly...

Pacific Legal Foundation Attacks Nation’s Fishery Management Councils (Again) in New Florida Suit

For the fourth time in three years, Sacramento-based Pacific Legal Foundation has filed a suit in federal court challenging the constitutionality of long-established federal fisheries management structures.  In three of the lawsuits, PLF targeted three different regional fishery management councils — those in the Gulf of Mexico, Alaska, and the Mid-Atlantic. The Florida suit filed in June claims all eight national management councils are illegal.

Each suit is brought defending individuals — at no cost to the plaintiffs — who suffer from decisions made by the regional councils and implemented by National Marine Fisheries Service (NMFS).

Japanese Ministry Survey Finds Total Fishers in 2023 Down 20.1% from 5 Years Ago

The number of people employed in the fishing industry in 2023 was 121,230 in Japan, down 30,471 (20.1%) from five years ago. Looking at this by age group, the number was down in all age groups compared to five years ago, with the most significant decrease being in the 65-69 age group by 26.5%. A fishing worker is a person aged 15 or older who has engaged in marine work in a self-employed fishing business for 30 days or more in the year before...

The Retail Rundown: September's Seasonal Shifts

Although there are about two weeks left to enjoy summer, many consider the season unofficially over following Labor Day. The retail landscape is starting to reflect this shift, where factors like cooler weather and football season are already influencing consumer demand. 

The frozen/convenience aisles and deli counters benefit from back-to-school needs and provide quick meals for busy households. Circana data indicates that prepared dishes/kits earned $18.1 million in total sales last week, up from $17.7 million the week prior. Over in lunchmeat, fresh packaged turkey retailed at $7.21 discounted, an 18-cent year-over-year decrease.