Unless you are interested in the sport you may not have head of it, but it is one of the UK's largest fishing retailers, has a store in Gloucester and its shares have been suspended.

Fishing Republic has seen major investors in its business pull support, according to reports forcing it to release a statement to the stock market yesterday about its predicament.

The decision by investors was blamed on "strong competitive pressures" and the move to suspend shares on AIM was described as an attempt to stem any major losses in its share price.

Fishing Republic, which opened a store in Gloucestershire on Eastville Close, off Eastern Avenue, last summer, also announced that new chief executive, Daniel Quinn, due to start today (October 31), had postponed joining the firm.

Former Tesco boss Sir Terry Leahy, who owns a nine per cent-plus stake in Fishing republic, had appointed Mr Quinn to turn the company around.

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