The future of SeaQuest, an interactive aquarium chain that filed for bankruptcy, is still undecided after it was not cleared for sale in court last week as proposed.

The Idaho-based company, which maintains five locations including one at Roseville’s Rosedale Center, had requested an expedited motion to sell for $80,000 to Jeff Cox, the buyer for Z&A Management LLC, but the request was withdrawn, according to the court docket.

On Monday, Judge Benjamin P. Hursh ordered the appointment of a Chapter 11 Trustee to manage SeaQuest’s estate. Once the trustee is appointed, they shall “act quickly” to determine a number of things, including the potential sale of SeaQuest’s assets “to Jeff Cox, the People for the Ethical Treatment of Animals, or other interested buyers,” according to court documents.

Animal rights activists who celebrated the quashed January sale now have a new concern: Where will the animals go?

PETA filed a brief last week objecting to the sale of the business to “company insider” Cox, who is also part of Noveen Capital, which owns a 4% stake in SeaQuest, according to court records.

“From 2018 to the present, U.S. Department of Agriculture inspectors have cited (SeaQuest’s) various locations for at least 131 violations of the Animal Welfare Act, including filthy, infested, or dilapidated enclosures, failure to properly and safely handle animals, and failure to provide basic care or veterinary treatment to animals,” PETA’s court filing states.

The only Minnesota location, SeaQuest Roseville, is currently home to animals including sea-dwelling fish, fresh-water fish, stingrays, a Giant Pacific octopus, a sloth, an otter, a Goldenchild Cow Reticulated Python and several birds, according to court documents.

The Minnesota Department of Natural Resources conducted an investigation into SeaQuest Roseville and presented its findings to the Ramsey County Attorney’s Office for prosecution review, which is still active and ongoing, Public Information Officer Dennis Gerhardstein said in an email last week.

SeaQuest did not return a Pioneer Press request for comment.

In regards to the appointment of a trustee, “PETA welcomes this development and looks forward to working with the Chapter 11 Trustee to achieve the best possible outcomes for animals,” a spokesperson for the nonprofit said in an email Wednesday.

SeaQuest, which operates five total locations in California, Nevada, Utah and New Jersey in addition to Roseville, filed for Chapter 11 bankruptcy in December.

The aquarium chain reported over $15.2 million in revenue for 2023, a sharp decline from the $27.1 million it reported in 2022. According to the Dec. 2 bankruptcy filing, the company has at least $500,000 in assets and between $10 million and $50 million in liabilities.

— Mars King

Honeywell to split into three entities

Honeywell, one of the last remaining U.S. industrial conglomerates, will split into three independent companies, following in the footsteps of manufacturing giants like General Electric and Alcoa.

The North Carolina-based company said Thursday that it will split off its automation and aerospace technologies businesses. There will now be three publicly listed companies including a previously announced plan to spin off its advanced materials business.

The separation is expected to be completed in the second half of 2026.

Honeywell is a storied Minnesota name, having been based in various forms in Minneapolis from the late 1800s to 1999, when it merged with Allied Signal and moved its headquarters to New Jersey.

Bank of England sees slower growth

The Bank of England halved its growth projection for the British economy this year as it cut its main interest rate Thursday for the third time in six months.

In a statement, the bank’s nine-member Monetary Policy Committee lowered its main interest rate by a quarter of a percentage point to 4.50%, taking it to its lowest level since mid-2023.

That decision was widely expected in financial markets.

What wasn’t expected was the scale of the growth downgrade in the bank’s accompanying economic forecasts. The bank now predicts that the British economy will only grow by 0.75% this year, down from its previous forecast of 1.5% just three months ago.

If that turns out to be remotely accurate, it will be hugely disappointing news for the U.K.’s new Labour government, which has made growth its number one mission as it will boost living standards and generate funds for cash-starved public services.

— From news services