Sale of Cumbrian Foods secures jobs in Seaham, Whitehaven and Amble
The jobs of more than 570 workers in County Durham, Cumbria and Northumberland have been secured with the sale of a seafood firm.
Cumbrian Seafoods, based in Seaham, County Durham and its subsidiary Border Laird, called in administrators because of rising raw material costs.
They have been bought by Young's Seafood Limited for an undisclosed sum.
Cumbrian Seafoods employs 378 people in Seaham and 117 in Whitehaven. Border Laird employs 79 in Amble.
A spokesman for administrators PricewaterhouseCoopers (PWC), said: "Rising raw material costs and reductions in activity played a role in the companies' decision to go into administration.
"The sale means that it remains business as usual for customers and staff.
"I'm delighted that we have been able to secure a sale of the business, enable the transfer of all employees and preserve the continuity of supply to customers in the run up to Christmas."
Peter Vassallo, chief executive of Cumbrian Seafoods, added: "Whilst I recognise that it is a difficult time for all concerned, this transaction is in the best interests of our employees and customers."
Cumbrian Seafoods was founded in Cumbria in 1997, but moved its main production facility to County Durham in 2007.
The company produces a range of seafood under the Perfect Catch and Ocean Pure brands.