Stinson cannery sale again delayed
The sale of the former Stinson Seafood cannery in Prospect Harbor has again been delayed, this time for unspecified reasons.
Antoine Bussone, president of Massachusetts-based Live Lobster Co., told the Bangor Daily News the company's purchase of the cannery from Bumble Bee Foods LLC has been delayed another few weeks, but did not say why. The company in August signed an agreement to buy the cannery but in December said it was pushing back closing the deal to mid-January, citing complexities of the deal and a pending wrongful termination lawsuit filed by a former business partner that prevented Live Lobster from using its assets as collateral to obtain financing. Bussone told the paper that financing is not the issue for the most recent delay, and that the lawsuit has been "absolutely resolved."
Live Lobster plans to use the cannery beginning in May as a lobster and bait distribution center, employing 30 to 40 people. Bumble Bee Foods closed the cannery last April, leaving nearly 130 people jobless.
In related news, a group of investors in Belfast closed on the former Stinson Seafood property in Belfast, buying the 3.6-acre property for an undisclosed amount, according to the Herald Gazette. The group -- which includes Rockport Marine owner Taylor Allen, Brooklin Boat Yard President Steven White and Augusta-based Kenway Corp. owner Kenneth Priest -- plans to turn the property into a boatyard and eventually a boat manufacturing facility, as well as an offshore wind and tidal power servicing center.
Go to the article from the Bangor Daily News >>
Go to the article from the Herald Gazette >>
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