{"id":577543,"date":"2026-04-01T02:04:17","date_gmt":"2026-04-01T02:04:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/577543\/"},"modified":"2026-04-01T02:04:17","modified_gmt":"2026-04-01T02:04:17","slug":"seafood-giant-a-raptis-and-sons-to-close-after-administrators-fail-to-find-buyer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/577543\/","title":{"rendered":"Seafood giant A Raptis and Sons to close after administrators fail to find buyer"},"content":{"rendered":"

Australia’s largest wild-caught prawn operation will close its doors after 60 years, impacting hundreds of workers and devastating a Queensland community.<\/p>\n

A Raptis & Sons Group is expected to axe more than 200 jobs across South Australia and Queensland and begin selling off assets after administrators, appointed in March, were unable to find a buyer for the wholesale seafood business.<\/p>\n

Hit by a failed banana prawn season and a 2024 price slump caused by oversupply, the company entered voluntary administration on March 6.<\/p>\n

\"photo<\/p>\n

A staple commercial fishing company is set to close after 60 years. (Supplied: Seafood Industry Australia)<\/p>\n

For tiny Gulf of Carpentaria town Karumba, the industry stalwart has been intertwined within the community fabric for decades.<\/p>\n

Instead of fishing the April 1 opening of the banana prawn season, 14 of the company’s 17 vessels will now sit idle across Northern Australia.<\/p>\n

Instead of preparing for a glut of prawns, Ash’s Holiday Unit and Cafe co-owner Yvonne Tunney said the town had been left devastated.<\/p>\n

“It’s extremely sad \u2026 it’s tragic because it’s only a little community,” she said.<\/p>\n

\"Woman<\/p>\n

Yvonne Tunney runs accommodation in Karumba, as well as tourism businesses. (ABC Landline: Cam Lang)<\/p>\n

“There’s not a lot of options for work \u2026 I think there’s also that flow-on effect, we’ve got the supermarkets that stock the trawlers, you’ve got all the other agencies and companies that supply services to them.<\/p>\n

“They’ve been such a part of the fabric of Karumba and the gulf for such a long time, it’s not a happy time.”<\/p>\n

Born from an Adelaide fish-and-chip shop opened in the 1950s by Greek migrants Arthur Raptis Sr and his wife Anna, the business quickly grew into a wild-caught seafood empire spanning Queensland and South Australia.<\/p>\n

\"Rapits<\/p>\n

Raptis has been Australia’s largest wild-caught prawn producers. (Supplied: Raptis Seafood)<\/p>\n

200 workers to be impacted<\/p>\n

Administrator Ben Campbell said, after initial interest, no buyers had come forward.<\/p>\n

“The administrators commenced an urgent assessment of options and a campaign for a potential sale and\/or recapitalisation of the business and assets, leveraging interest from a previous transaction process undertaken,” he said.<\/p>\n

\"An<\/p>\n

Karumba’s population of about 400 can increase to 2,000 people during the tourist season. (Supplied: Karumba Sunset Caravan Park)<\/p>\n

“While there was some interest in the sale process, unfortunately, and despite the best efforts of all parties, there have been no offers for the sale of the business as a going concern that are able to be taken forward.<\/p>\n

“Given this circumstance and the ongoing funding requirements of the business operations, a decision has been made to wind down the business of the companies over the coming months. This will impact over 200 employees.”<\/p>\n

‘A kick in the guts’<\/p>\n

Fisher and manager of Malanda Seafood in Karumba, Karen Miller, said the loss of Raptis would leave a “huge hole” in the gulf’s commercial fishing industry.<\/p>\n

The company provided a fuel wharf for the commercial industry in Karumba and additional warehouse infrastructure.<\/p>\n

\"Fishnig<\/p>\n

The Raptis Wharf at the Port of Karumba in the Gulf of Carpentaria. (Supplied: Tom Major)<\/p>\n

“It’s very concerning,” Ms Miller said.<\/p>\n

“Without [Raptis’s] infrastructure, it would obviously be a lot harder for us small businesses.<\/p>\n

“We don’t have that manpower and funding behind us to take much further steps forward in that regard.”<\/p>\n

Ms Miller said the loss for the Karumba industry highlighted a national problem.<\/p>\n

“It’s like a kick in the guts for the whole industry,” she said.<\/p>\n

“I think it’s a bigger message to all of Australia \u2026 with the rising cost of Australian seafood, it’s never been more important to support local seafood.<\/p>\n

\"old<\/p>\n

Raptis Seafood has operated for 60 years. (Supplied: Raptis Seafood)<\/p>\n

“This is a sign of the times that this happens to big companies \u2026 it’s very unsettling.”<\/p>\n

Banana prawn trawlers are set to hit the seas today, with the start of the gulf season, and Ms Miller said she still expected boats to be on the water.<\/p>\n

“All the other boats will be heading out, whether they’re in a reduced capacity or not sending the entire fleet, and we hope to see some of those banana prawns into the market soon” she said.<\/p>\n

The closure will affect seven subsidiaries across the seafood and marine industry, together known as “the companies”.<\/p>\n

\"sign<\/p>\n

Karumba is located in the Gulf of Carpentaria, 570 kilometres north of Mount Isa. (ABC News: Emily Dobson)<\/p>\n

For Karumba locals who have been isolated by floodwater for the past four months, Ms Tunney said the timing could not be worse.<\/p>\n

“It’s a cornerstone of the community,” she said.<\/p>\n

“We’re dealing with coming out of a very long flood into a fuel crisis \u2026 quite honestly, I get a bit offended by people telling me to be resilient and how to be resilient in business, that’s what people out here do all the time.<\/p>\n

“It’s been a couple of very, very tough years for the prawn fleet \u2026 so you can’t be too shocked, but it’s something you hope can never happen to a company like Raptis.”<\/p>\n

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