ST. JOHN’S, Newfoundland – Not since the devastating collapse of cod stocks nearly 15 years ago has Newfoundland and Labrador’s fishing industry fallen on such hard times.

In the latest setback for the fisheries, about 700 seafood processing workers were laid off last week after Sea Treat Ltd. shut down plants in three rural Newfoundland communities and another in Cape Breton, Nova Scotia

The recent string of plant closures, coupled with falling prices and restructuring plans that call for even more layoffs, prompted Premier Danny Williams to stage a hastily called meeting this Wednesday between fishery workers and government officials, including federal Fisheries Minister Loyola Hearn.

“We could be heading towards a crisis,” Williams said. “A lot of these things that are happening here are things that are completely out of our control.”