Australian seafood company A Raptis & Sons Group, one of the country’s largest privately owned fishing businesses, has entered voluntary administration as efforts begin to restructure or sell the company.
The Brisbane-based family enterprise, which has operated for more than six decades and spans three generations, is widely recognised as Australia’s largest wild-caught prawn operator.
On Friday, administrators Ben Campbell, Vaughan Strawbridge and Kathryn Evans of FTI Consulting were appointed to oversee the seven companies that make up the group.
The appointment follows a challenging year for the business, including a poor prawn season that placed pressure on operations. The company had already been seeking buyers…