One of the original investors in a troubled Alaska seafood company has narrowly outbid competitor Silver Bay Seafoods in an auction for the firm’s assets — including a major processing plant in the Alaska Peninsula village of King Cove.for the assets of Peter Pan Seafood, including two other processing plants — one in the Bristol Bay hub town of Dillingham and another in a remote part of the Alaska Peninsula called Port Moller.
The sale of Peter Pan, which operates primarily in Alaska with a business headquarters in Washington, isn’t final. A confirmation hearing in Peter Pan’s receivership case — a bankruptcy-like proceeding overseen by a Seattle court — is scheduled for Oct. 3.Peter Pan from a Japanese conglomerate in 2020. The other two investors are private funds, one run by Anchorage-based McKinley Capital Management and another led by Los Angeles-based RRG Capital Management.