The Bristol Bay Times

Peter Pan announces it will cease operations

Peter Pan Seafood Co., the state-backed processing company that has faced dire financial troubles recently, announced Friday it was ceasing operations.

“We’re saddened to share that Peter Pan Seafoods will be halting operations at its processing plants, leading to the discontinuation of both summer and winter production cycles for the foreseeable future,” the company said in a Facebook post Friday night.

The company faced mounting troubles, including legal claims from fishermen claiming back-owed payments for unpaid deliveries of seafood.

Silver Bay Seafoods recently announced it would acquire Peter Pan’s Valdez facility, as well as operate Peter Pan’s facilities in Dillingham and Port Moller during the 2024 salmon season. It never specified, however, if the King Cove plant would be included.

“This is so sad because I [worked up in King Cove] from ‘96 through last summer,” one commenter posted. “I have good memories from King Cove and the plant, have my kids in the school for a few years.”

King Cove, a community of around 800 residents, relies on the processing facility as its main economic engine. The city already faced hardship when Peter Pan opted last minute not to open for winter’s “A” season, forcing local fishing boats to scramble for new facilities where they could deliver their catch.

“Thanks for waiting until the last possible minute before you told the community of King Cove,” another person commented. “Wouldn’t even tell the fishing fleet of King Cove face to face what was happening, we all have to find out on Facebook.”

Peter Pan said current or former employees can seek processing jobs at Silver Bay Seafoods, but did not specify which facilities would be hiring.