Local Fish Farm Forclosure!

So I tried to post this in front page new section but it wouldn't let me. Thought this would interest everyone.

A local saltwater fish farm near me that supplies fish to stores and restaurants is in foreclosure. I drove by it about a week ago, its all taped off and they have an ENCON team there keeping the fish alive. The bank wants to foreclose, but it drew up major controversy cause if they shut off the power, tens of thousands of fish die.

Here is a link to the news video.

Lets hope someone buys the farm and takes over. SAVE THE FISH!

http://wnyt.com/article/stories/s3127411.shtml
 

DaveK

Well-Known Member
According to the article, the fish supplied are the eating kind of fish, and not for the aquarium trade. So no matter what happens these fish are going to end up killed.

While it would be nice for some one else to take it over, I think this is unlikely. From an cost point of view, someone with interest in the facility would do better by letting the bank foreclose, and then buying it from the bank, with the bank and original owners taking the loss. Sad but true.
 

LSUFireGal

Member
^True but if this was a farm full of cattle they wouldn't just shut down power and water and let the animals die, why should fish be treated any different? They need to sell the fish and hold money in a trust if the foreclosure hasn't been completed yet. I would think taking the effort to sell off livestock would be easier then the clean up after letting thousands of fish just die and rot.
 

ddelozier

Well-Known Member
PREMIUM
RS Ambassador
If livestock is still in the facility, they wont just "shut the lights off". They'll auction off the livestock, the same way they would a Forclosed Feed Yard. My wife works at a Feed Yard, and has seen many come and go. I work at a Beef Processing plant. When a Feed Yard shuts down, whether its forclosure/sale or what not, our Cattle buyers at both the plant/yard Throw a party, cause the cattle have to be sold before they can cut power/stop feeding. Such auctions are the banks way of trying to recooperate their losses. The humane society, FDA and EPA would be ALL OVER a bank that tried to shut down a facility like that with live animals inside. Besides being inhumane, the starved animals would create health and environmental hazards.
 
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