About 200 jobs are at risk as Independent Fisheries looks at closing its processing plant in the Christchurch suburb of Woolston.
Intense competition from heavily discounted foreign-sourced product in its key markets had forced the Christchurch-based fishing company into the move, general manager Mark Allison said today.
"The move is the result of fierce competition from mainly Asian-sourced processed fish products of similar quality at much lower prices. This has caused a sharp decline in sales over the last three years," he said.
The market issues were compounded by damage to the Woolston facilities from the Canterbury earthquakes.
"We understand the concern that this announcement will cause for our staff, many of whom have been with us for a considerable time. We will be consulting with them and their representatives.
"We want to ensure that Independent Fisheries continues as a viable company making a valuable contribution to the Canterbury economy, but it is clear that we cannot do so under our current structure."
The company planned to announce the outcome of the consultation process on November 8, he said.
Allison said other parts of the company would not be affected by the review.
- © Fairfax NZ News