Award-winning Fife company goes into administration with loss of seven jobs

Award-winning Glenrothes-based Mara Seaweed ran into what “severe working capital issues” following the withdrawal of funding for a committed expansion programme. That, in turn, led to unsustainable cash flow problems with administration being its only option.

Administrators Callum Carmichael and Chad Griffin, partners with FRP Advisory, have now been called in, and the business is up for sale. Five staff have been retained to help with the sale of stock.

Founded in 2011 as Celtic Sea Spice Company, the businesswas rebranded as Mara Seaweed in 2013 and pioneered the harvesting, processing and manufacture of a wide range of seaweed-based seasonings.

It was based out of a purpose-built factory in Nasmyth Road, Glenrothes and sold to wholesale, trade, retail and direct to consumers. The company won a number of ‘Great Taste’ and food industry awards, and its products regularly featured on TV shows such as the Great British Bake Off.

The joint administrators will now market the brand and assets of the business for sale and are urging interested parties to make contact as soon as possible. Support will also be given to staff, including assistance with claims to the Redundancy Payments Office for any wages due.

Mr Carmichael said: “Mara Seaweed had developed a very high profile and outstanding reputation within the food industry for its innovative approach to harvesting and for the quality of its products. The administration provides an opportunity for a business operating in the sector, or an entrepreneur keen to enter the rapidly growing seaweed seasonings business.”