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LA Renaissance: Will the timelines allow for a recovery in time for the crab season?

(Photo: CFIM)

Îles de la Madeleine

The picture of potential buyers of the LA Renaissance assets should become clearer in the coming weeks.

The trustee responsible for the liquidation of the assets made public on Monday the call for tenders for the takeover, which ends on March 23, just before the start of the snow crab season.

According to Olivier Renaud, who acts as the provisional president of the Magdalen Islands Fishermen’s Cooperative, which includes more than fifty lobster and crab fishers interested in taking over the facilities, this delay compromises the season and the profitability of the assets at stake.

Potential buyers will need to quickly secure financing, customer books, and labor to sustain operations.

The irregular situation of the Grande-Entrée plant, built on a lot owned by the Ministry of Natural Resources and Forestry under an agreement, could also slow down the process.

Olivier Renaud reminds us that the relaunch will not be possible without the support of the fishermen supplying the company, who demonstrated their commitment to the cooperative last week.

The improvement of working conditions in the processing sector is also part of the vision defended by the fishermen’s group.

Officially registered since last Tuesday, the cooperative intends, over the next few days, to solidify its support in the community, continue its political representations and hold its founding meeting.

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