September 30, 2020 — Bad debt is plaguing the U.S. seafood industry, and the only cure is another federal stimulus package. That was the message Kim Gorton delivered Wednesday, 30 September, to the U.S. House of Representatives Committee on Small Business.
Gorton, the president and CEO of Slade Gorton and a board member of the National Fisheries Institute, the U.S. seafood industry’s primary trade body, told the panel seafood industry businesses like her family’s have a combined USD 2.2 billion (EUR 1.9 billion) in bad debt and other foodservice companies carry about USD 10 billion (EUR 8.53 billion) in bad debt.