- Fishing Republic said it was still attempting to rustle up funds to stay afloat, either via an equity raising, asset disposals or an outright sale of the company.

The tackle retailer said it was currently in discussions with certain existing shareholders to asses their support for providing short-term financing.

'Alongside this, the company's professional advisers have been looking at various options to sell all or parts of the trading business as a going concern,' it said.

'There is no guarantee that the company will be able to conclude the equity fundraise or raise sufficient funds for its immediate and future working capital requirements, it added.

'Therefore, a material uncertainty regarding the group's financial position continues to exist.'

Fishing Republic first warned of its funding problems in October.

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