An interested party has submitted a proposal for financially troubled Catalano Seafood, as administrators from McGrathNicol tally its multi-million-dollar debts to creditors.
Administrators from McGrathNicol have been called in to lead a potential sale or restructure of ASX-listed Catalano's Seafood, which has operated in WA since the 1960s.
After selling seafood in the state for more than half a century, Catalano's is looking to use capital from a planned ASX listing to fund an expansion into the east coast.
SPECIAL REPORT: The Catalano family has delivered continuity of ownership of its seafood business across three generations, but has implemented several strategic shifts along the way.
East Perth's Restaurant Amuse has taken out the coveted Restaurant of the Year prize at the 2011 Western Australian Restaurant and Catering Awards for Excellence.
SELLING seafood has always been in the Catalano brothers' blood sine, as teenagers, Nick and Paul Catalano started working at their father Frank's Cannington fish and chip shop.
THE Catalano family know their fish. Indeed, it would be hard not to for a family that has known nothing else since Frank Catalano bought a fish and chip shop more than 30 years ago.
