Lofitorsk tangentially suffered from the rumours and incidence of 'monster cod'. (Photo: Fiskeridirektoratet/Stock File)
Norwegian cod farming company Lofitorsk filed for bankruptcy last Thursday.
Lofitorsk is the parent company of Lofilab, which produces cod seedlings in Lofoten, and also of Storfjord Torsk, which raises cod in Storfjord in the Troms region.
Last year, Lofitorsk attempted and failed to obtain new capital, according to Chairman Steinar Eliassen. The company had to cope with biological problems, especially pertaining to diseases and a variable rate of fish production.
As a result, the breeder had to continually invest in its juvenile production without achieving a return on investment.
Lofitorsk also struggled to deal with repeated co...