The credit crunch is here. The middle class consumers are all tapped out. We will start seeing all sorts of small, medium and large businesses dying suddenly – No notice, shutting down all operations. Get ready for the economic collapse. It’s not just America, China is on thin ice too.
Major food company files for bankruptcy and closes down all operations laying off workers with ‘no severance checks’
THE largest groundfish company on the East Coast has filed for bankruptcy leaving employees without a job as it shutters all of its locations.
Blue Harvest Fisheries filed for Chapter 7 bankruptcy on Friday, meaning it will most likely have to close and liquidate all of its company assets.
“They weren’t just underwater. It looks like they had long since drowned,” a lawyer who reviewed the company’s court records told the New Bedford Light.
Located in New Bedford, off the south Massachusetts coast, the company which launched in 2015 quietly shut down all fishing operations on September 1.
Yet, Blue Harvest has not made a public statement as of Monday, leaving fishermen and others in the industry clueless as to what is going on.
The company has been laying off workers since May when Blue Harvest shut down its processing plant.