New England Fish Company

The New England Fish Company (NEFCO) was founded in 1868 when eleven wholesale fish dealers met in Boston, Massachusetts, for the purpose of systematically marketing the catch of halibut fishermen. Initially, NEFCO established a system of cooperative buying and distribution. In the 1880s, as both the company's growth and the demand for halibut accelerated, NEFCO's attention was drawn to the waters of the Pacific Northwest. Aided by the development of railroad lines, expansion on the West Coast was rapid. By 1931, NEFCO had moved its head office from Boston to Seattle, Washington, where it became the largest producer of salmon products in North America. Over the years, the company continued to expand and diversify, becoming involved in the manufacture and distribution of pet food, as well as in insurance and property management concerns. In the 1970s, a number of lawsuits were filed against NEFCO relating to discrimination and anti-trust violations. Several other developments, combined with poor management decisions, also helped to push the company into bankruptcy. NEFCO filed for protection under Chapter 11 on April 23, 1980. On March 31, 1989, the bankruptcy trustee's office closed after collecting $82.2 million for the company's assets. The depressed state of the industry and a botulism scare in the early 1980s had prolonged the liquidation of the company's assets. Sam Rubenstein, the trustee, paid or settled all claims of creditors in full with interest.

From the description of New England Fish Company records, 1902-1983 (bulk 1970-1980) (Unknown). WorldCat record id: 123953367

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