Matorka enters payment suspension amid financial restructuring in Grindavík

Matorka, a company engaged in land-based aquaculture in Grindavík, is undergoing a financial restructuring and has entered into a payment suspension to facilitate this process. According to the company, shareholders have invested significant funds to navigate challenging times brought on by volcanic activity and other geological upheavals in the area. Both suppliers and creditors have shown considerable understanding of the situation.

The restructuring plan includes converting some debt into equity and negotiating with creditors. Matorka has reported that discussions with major creditors and banks are well advanced.

In November, the company experienced significant losses due to earthquakes, which resulted in approximately 80 tons of trout being lost, disrupted water flow, and damage to several large fish tanks. Currently, Matorka has about 450 tons of trout in cultivation. The company aims to restore its annual production capacity to 3,000 tons of trout.