Company to continue operating while it restructures liabilities and pursues a court-supervised sale to a new owner
PORTLAND, Maine, July 2, 2025 /PRNewswire-PRWeb/ -- Cozy Harbor Seafood, Inc. (the "Company"), and its companies, Art's Lobster Co., Inc. and Casco Bay Lobster, today announced it has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Maine. The Company initiated this process to continue operating while it restructures its liabilities and pursues a court-supervised sale to a new owner.
Going forward, Cozy Harbor's processing and packing facilities on St. John Street, at the Portland Fish Exchange and on Union Wharf in Portland, Maine will continue to operate, receive lobster and whitefish deliveries from suppliers, employ staff, and fulfill customer orders. The company anticipates its workforce to remain intact and customers will continue to enjoy Cozy Harbor Seafood products.
The Company's decision is best understood in the context of broader market forces that have strained the sector in recent years. Like many businesses, Cozy Harbor Seafood has had to manage many financial challenges in the years since the COVID-19 pandemic. In this environment, even well-established processors have struggled to manage sustained external pressures and market instability.
Chapter 11 provides a proven process and legal protection to help Cozy Harbor Seafood efficiently and effectively achieve its long-term financial and operational goals, while providing a level playing field and the opportunity for company value to be maximized in the event of a sale, to the benefit of all creditors.
"For more than 45 years, Cozy Harbor Seafood has been a leader in sharing Maine's iconic lobster catch with the world, while being a reliable partner for our local fishermen and working waterfronts," said John Norton, President and Co-Founder of Cozy Harbor Seafood. "Despite the many challenges we've faced over the last 45 years, our business is woven into the social, cultural and economic fabric of Maine– and that is worth saving, which is why we have made this difficult, yet important decision. Chapter 11 is a proven process that will help us to continue doing what we do best – processing, packing and selling premium-quality seafood – while we position the company for long-term success, potentially under a new owner."
The Company is represented by Bernstein Shur as legal counsel and Corporate Finance Associates as investment banking M&A advisor.
About Cozy Harbor Seafood Inc.
Cozy Harbor Seafood is the oldest and most experienced processor of lobster in the US. We are a primary processor with our main processing plant in Portland, Maine. In business since 1980, Cozy Harbor has established itself in the US and world markets as the most respected source of high-quality seafood products from Maine. Maine lobster and local whitefish keep Cozy Harbor busy year-round producing the best that Maine has to offer. We sell to major supermarket chains, wholesalers, importers, and distributors. Our reputation for quality, safety, and service is evidenced by our regular certification with Global Food Safety Initiative benchmarked audits, USDC, FDA, and other third-party auditors. Whether it is premium frozen lobster or fresh fish for local markets, Cozy Harbor continues to set the bar. For more information visit https://www.cozyharbor.com/.
Media Contact
Cozy Harbor Seafood, Cozy Harbor Seafood, 207-879-2665, [email protected], www.cozyharbor.com
SOURCE Cozy Harbor Seafood
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