Nova Scotia cashing in on $5 million investment that saved High Liner during the 1980's cod collapse
SEAFOODNEWS.COM [The Chronicle Herald] November 21, 2014
High Liner Foods Inc. may be in the black now, but the company desperately needed the province’s help to stay afloat in the ’80s.
In 1984, Nova Scotia bought 50,000 preferred shares in the Lunenburg seafood business in an effort to save the firm and the jobs it provided.
“The initial investment going way back to the early ’80s, which was at the time of the groundfish collapse, was a $5-million investment from the province,” Shawn Hirtle of Nova Scotia Business Inc. said in an interview Wednesday.
While the agency didn’t make the initial investment, it was later tasked to handle the file...Full Story »