Great Pacific Seafoods, a Seattle company with three processing plants in Alaska, has ceased operations and will liquidate under chapter 7 of the Bankruptcy Code, the Seattle Times reported yesterday. Bankruptcy papers filed on Sunday show Great Pacific’s revenues fell from $26.5 million in 2014 to $21.2 million last year. The filing lists assets of $12.4 million and liabilities of $12.3 million. The company’s statement attributed its financial difficulties to “a significant drop in the price of roe due to the Russian embargo and the combination of the Japanese yen’s valuation and Japanese demand.”
