Whats the big deal, fish companies have been going bankrupt for generations in Alaska. It's always just a matter of time.

"On April 23, 1980, the debtor filed a petition for reorganization under Chapter 11 of the Bankruptcy Reform Act of 1978, 11 U.S.C. §§ 101 et seq. (hereinafter the "Code"), which was converted into a Chapter 7 liquidation proceeding on May 2, 1980."

http://www.leagle.com/decision/198234219BR323_1252/IN%20RE%20NEW%20ENGLAND%20FISH%20CO.