Icelandic Seachill loses £50m Marks and Spencer contract

UK-based fish processor Icelandic Seachill has lost a Marks and Spencer (M&S) contract worth £50m a year.

M&S has given the contract to Five Star Fish of Grimsby and Greencore. Both companies already supply products to the retailer, reported Fishupdate.com.

Five Star Fish has secured the M&S contract for coated fish while the contract for prawn cocktail has been secured by Greencore, reported Undercurrentnews.com.

Greencore’s facility in Northampton will undertake the contract.

Following the loss of this contract, the management has sent a memo to employees.

Icelandic Seachill Chief executive Simon Smith was quoted by Undercurrentnews.com as stating: "This decision will have a huge impact on our business and the unfortunate reality is that a large number of roles may be at risk.

"We are currently reviewing all practicable alternative scenarios. It is early days and we are working on detailed proposals which we will share with our employees at the earliest opportunity. Our number one priority is to support those directly impacted by the decision that M&S have taken.

"The Icelandic Seachill business remains in good shape with strong and continuing partnerships with our remaining customers."