Former Live Lobster plant sells for $900,000

9:35 AM, Sep 27, 2012   |    comments
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PROSPECT HARBOR, Maine (NEWS CENTER)-- The Stinson Seafood building has seen its fair share of owners over the years. Today, it added its fifth name to the list.

The Stinson Seafood building located in the Gouldsboro village of Prospect Harbor, operated as a sardine cannery from 1906 to 2010.  It was the last sardine cannery that operated in the United States, and employed 128 people at the time when it closed.

After the sardine cannery shut down the plant was purchased by the Massachusetts based firm, Live Lobster. In March Live Lobster suspended operations due to a lawsuit filed against it by TD Bank, claiming the firm violated terms of a 2008 loan agreement for $4 million with the bank.

As a result of that closure around 70 people lost their jobs. 

Tranzon Auction Properties held an auction where the former lobster processing plant was put up for bid. A total of five people paid to have the option to acquire the property. Other stock items were also auctioned off including several trucks, trailers and a fishing boat. The plant was auctioned off for $900,000 and sold to Dave Garbo of Garbo Lobster and his partners. Revenue from the other items auctioned is estimated to be around $80,000.

NEWS CENTER