Mara Seaweed, a Glenrothes-based producer of seaweed-based seasonings, has entered administration.
The business was founded in 2011 as the Celtic Sea Spice Company by Fiona Houston and Xa Milne, who shared an interest in foraging for seaweed and creating new recipes using it.
It was relaunched in 2013 as Mara Seaweed and its products received a number of industry accolades, including several Great Taste awards.
Administrator FRP Advisory was called in after the withdrawal of funding for an expansion programme the business had committed to led to unsustainable cashflow problems.
FRP is selling Mara Seaweed’s brand and assets, and urged interested parties to contact its Edinburgh office as soon as possible.
Seven staff have been laid off immediately while a further five have been kept on temporarily to help wind down the business.
Callum Carmichael, partner with FRP Advisory, said: “Mara Seaweed had developed a very high profile and outstanding reputation within the food industry for its innovative approach to harvesting and for the quality of its products.
“The administration provides an opportunity for a business operating in the food seasonings sector, or an entrepreneur keen to enter the rapidly growing seaweed seasonings business.”
