Marukyu Europe withdraws from UK market
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Japanese bait manufacturer Marukyu has withdrawn its operations within the UK, blaming poor trading conditions, uncertainty caused by Brexit and turmoil within the angling trade in the region.
Widely regarded as the world’s biggest supplier of bait, Marukyu, under then Chairman John Loftus, entered the UK in 2010 and in 2015 bought Chapel Baits to secure a manufacturing facility to increase supply to UK and European markets.
However, last week the company announced on its website that it was pulling out of the UK.
Howard Kaye, National Sales and Marketing Manager, Marukyu Europe, wrote: “It is with deep regret that we announce that the company is withdrawing its operation in the UK with immediate effect. Marukyu, which specialises in the production of quality groundbait, additives and other baits for the coarse fishing market, has not taken this decision lightly.
“Poor trading conditions, the uncertainty surrounding Brexit and turmoil within the UK angling trade are all contributory factors. We have enjoyed great success in the UK since we launched in 2010, supplying top quality and environmentally friendly baits to anglers.
“We would like to thank everyone for their support over the last eight years, including our pro staff team, retailers and loyal customers.”