Embattled fishing company Takitimu Seafoods is closing down with the loss of 33 jobs. Owned by Ngāti Kahungunu the company has lost $14.9 million over the past three years. Holdings Company chair Trevor Moeke said Takitimu’s financial coupled with an enforced six-week closure due to the impacts of Cyclone Gabrielle, had led to the decision to close the operation. An independent review of the company’s performance, announced by Ngāti Kahungunu Iwi Incorporated chair Bayden Barber last year, was also likely to have been a factor. Mr. Barber said although the decision to close was difficult, it was also prudent and in the best interests of the iwi and its people. At staff meeting today, as part of its consultation process, Takitimu Seafoods offered to pay permanent staff eight weeks pay. The closure doesn’t affect the fishing quota partnerships with Moana NZ and Sealord and Takitimu Seafoods will work with its creditors.