Coldwater Seafood, Icelandic Group’s subsidiary in the UK, is entering a 90-day consultation period as part of a process for a proposed restructuring of the Coldwater Seafood business in Redditch. Labour unions and employee representatives at Redditch will be informed about the pending restructuring of the business. According to the company’s announcement, Coldwater Seafood Ltd. will consider all alternatives to restructuring of the business during the consultation period. Coldwater is one of the subsidiaries of Icelandic Group which has been making a loss for some years. Therefore, this announcement is hardly surprising.
Source: Glitnir
