There has been “considerable” interest in rescuing a Fife firm that collapsed into administration last month, administrators have said.
Glenrothes-based Mara Seaweed fell into administration at the end of June, with seven staff made redundant.
Administrators Callum Carmichael and Chad Griffin, partners with FRP Advisory said the firm’s collapse was triggered by “severe” working capital issues following the withdrawal of funding for an expansion programme.
In 2021, it won £600,000 funding from the Scottish Government to scale up its operations.
Closing date for Mara Seaweed offers
However, administrators have revealed there have been more than 20 enquiries about taking over the business.
A spokesperson for the administrators said: “There has been considerable interest in the sale of Mara Seaweed after the business was placed administration.
“A closing date for offers has now been set for 10am on Friday, July 7.
“Any interested parties still considering making an offer are urged to contact FRP Advisory promptly.”
The Fife firm was founded in 2011 as Celtic Spice Company, before rebranding two years later.
Mara Seaweed is sustainably sourced under Crown Estate license from a 20-mile stretch of coastline around the East Neuk of Fife.
The firm processed the seaweed into premium ingredients and seasonings within 24 hours at its Glenrothes facility.
In 2019, the firm was included in Tesco’s incubator programme to help the growth of young, innovative suppliers.
