Rotherham-based fishing tackle retailer Fishing Republic said on Tuesday its shares have been suspended on AIM “at the company’s request pending clarification of its financial position.”

The company said in a stock exchange statement: “As announced in the company’s interim results statement on 27 September 2018, group sales have been significantly affected by strong competitive pressures.

“This difficult trading environment has continued and the board has been informed that certain major shareholders are no longer willing to provide further short-term financial assistance to the group.

“Trading in the company’s securities on AIM was therefore suspended at the company’s request pending clarification of its financial position.

“A further announcement will be made in due course.”