The company is a family-founded fishing operation dating back to the 1960s, with origins in the 1930s when Greek founder Arthur Raptis snr began working in the fishing industry<\/a> as a migrant. The family later opened a fish and chip shop in Adelaide.<\/a><\/p>\n Know the news with the 7NEWS app: Download today Arrow<\/a><\/p>\n Administrators were appointed on March 6 to entities including A. Raptis & Sons Pty Ltd, Harvest Seafood Australia and its Karumba-based operations.<\/p>\n Despite launching an urgent campaign to sell or recapitalise the business, no viable offers were received.<\/p>\n \u201cWhile there was some interest in the sale process\u2026 there have been no offers for the sale of the business as a going concern that are able to be taken forward,\u201d the administrators said in an update on March 31.<\/p>\n \u201cGiven 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.\u201d<\/p>\n The collapse will impact more than 200 employees across Queensland<\/a>. The sudden closure is expected to send ripple effects through supply chains, from trawler crews and processing workers to transport operators and regional suppliers.<\/p>\n For decades, Raptis has been the backbone of Australia\u2019s prawn trawling industry, with strong ties to northern fishing hubs like Karumba in the Gulf of Carpentaria.<\/p>\n The company owns and operates 19 commercial fishing vessels across Australian waters and sources wild-caught seafood nationally.<\/p>\n The announcement comes just 24 hours before the traditional seafood run-up to Easter \u2014 one of the most critical trading windows of the year \u2014 when demand for prawns and fresh seafood typically surges.<\/p>\n It also raises broader concerns about mounting pressures the fishing industry is facing, including rising fuel costs<\/a>, operational expenses and market volatility.<\/p>\n Administrators said they are now working with affected staff and stakeholders as the shutdown progresses.<\/p>\n \u201cThe administrators are engaging with relevant stakeholders who may be impacted by this decision and will continue to pursue a sale of the assets of the companies,\u201d they said.<\/p>\n They will continue liaising with employees about their entitlements during the administration process.<\/p>\n <\/p>\n Man charged after older relative allegedly killed, body burned<\/p>\n 2 min read<\/p>\n![\"From](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/5d46077b62b35d2ebf64b62bfb3adb58eca0a43e-16x9-x0y0w1280h720.jpg\")
From migrant beginnings to a national seafood operator, the Raptis family business grew from a small fish and chip shop into a major industry player. Credit: Raptis![\"Easter](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/3b7002ada5855466465bcee9bd3c844c131c9b30-16x9-x0y0w1280h720.jpg\")
Easter is one of the busiest periods for seafood in Australia, second only to Christmas, with demand largely driven by Good Friday traditions. Credit: Raptis<\/p>\n![\"Banana](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/ef91d35604789f491af02985aa37e42e12d46c59-16x9-x0y0w1280h720.jpg\")
Banana prawns caught by a Raptis trawler, with Easter typically marking a peak sales period for the industry. Credit: Raptis![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/4cf0af25aafca148b35f17c0981cfdfda1f38b87-16x9-x0y0w1280h720.jpg\")
The company\u2019s fleet fishes across Australia, targeting prawns and other species in key commercial fisheries. Credit: Raptis<\/p>\n