Representatives from Oregon-based Pacific Seafood could be interested in buying the shuttered Peter Pan processing plant in King Cove, according to local officials from the Alaska Peninsula community.
At Thursday’s Aleutians East Borough Assembly meeting, King Cove Mayor Warren Wilson said that representatives from the seafood company had visited the plant the week before.
“They were very impressed with the plant, and they are moving forward with some talks on acquiring the facility,” he said during the public comment period, speaking as a community member. “So there is interest yet.”
Peter Pan ceased operating in King Cove in January of last year and was placed into a court-ordered receivership a few months later. After a legal dispute, the property was awarded to Peter Pan Chief Executive Rodger May. May has faced criticism over Peter Pan’s business practices, including failing to pay fishermen for the 2023 salmon season.
The plant was a major economic driver for the Alaska Peninsula community of about 800 residents. City Administrator Gary Hennigh said it generated about 70% of the city’s revenue.
“We’re not quite living on borrowed time yet, but we’re getting pretty darn close,” he said in an interview Tues.
Hennigh said he’s encouraged by the interest but cautioned that, even if there should be a deal for the plant, it is too late to restart operations for the upcoming salmon season, which opens early next month.
“Common sense just tells me it’s just not meant to happen for this summer salmon season,” he said.
Pacific Seafood has expanded in recent years. The family-owned company says it operates about 40 facilities across the U.S., Canada and Europe, including a former Trident plant in Kodiak that it acquired last year. The company did not respond to a request for comment.
Processors haven’t announced prices for the upcoming salmon season, but fishermen are expecting a higher payout for sockeye after several years that saw historic lows.
