Lobster firm seeks to straighten out cash problems
GOULDSBORO, Maine—A Massachusetts-based company that bought the nation's last full-time sardine cannery says it's working to straighten out cash flow problems that have forced it to stop its operations in Maine.
Lobster Web Co. has stopped operations at its eastern Maine lobster-processing plant in Gouldsboro and at several lobster-buying stations along the Maine coast. The processing plant is the former home of the Stinson Seafood sardine cannery, which closed two years ago.
Lobster Web Vice President Toni Lilienthal told the Bangor Daily News (http://bit.ly/ICazgD) the company has been trying to line up new financing after TD Bank froze its checking accounts last month.
She said the company has not been operating because it hasn't been able to write checks to pay its employees or the fishermen it buys lobster from.
Information from: Bangor Daily News, http://www.bangordailynews.com