Angling retailer Fishing Republic has been acquired from its administrators by an unconnected third party which intends to retain its 14 strong store chain and 111 jobs. The AIM listed business had been one of the UK’s largest retailers in its niche but hit the buffers in December following the suspension of its shares. Its revenues had fallen to £3.3 million from £4 million in the previous year and, with losses mounting, attempts to improve performance had not been enough to save it. The identity of the new owner has yet to be revealed.
Share