Troubled fishing company Simunovich Fisheries has laid off more than 10 per cent of its staff and says a drop in quota is to blame.
The company, already embroiled in a select committee hearing in which it has been accused of misrepresenting its scampi catch, has closed its processingoperation and made 24 of its 200 staff redundant.
The company is also considering selling one or more of its 16 boats.
Managing director Peter Simunovich said the decision had been difficult but "there aren't enough fish".
The company's offices and factory, with a council valuation of $340,000, sits on leasehold land in the Viaduct Harbour valued at $1.6 million.
It will continue to operate its airfreight and wholesale sales from the site.
Simunovich said that although some fish was processed on board the boats, the rest would be sold in more complete form.
He said the drop in the orange roughy and hoki quota was to blame for the downturn in business.
Hoki quota was cut two seasons ago by 50,000 tonnes to a total 200,000 catchable tonnes.
Orange roughy, depending on which area is fished, has been cut up to 47 per cent since the last season.
The largest orange roughy fishing area has remained unchanged.
Simunovich would not detail the amount of quota the company held for each species.
