Boss appointed to rescue Fishing Republic backs out sparking fears of a collapse
The one that got away: Daniel Quinn is no longer joining Fishing Republic
The businessman appointed to lead sinking angling company Fishing Republic has cancelled plans to join as boss, sparking fears the chain is headed for collapse.
Daniel Quinn, the former commercial director of Go Outdoors, had been drafted in as chief executive to lead the turnaround of the troubled business, which employs 117 staff.
He was due to start yesterday, but instead the 14-store chain said he would not be moving into his role or joining the board.
Fishing Republic’s shares were suspended from trading earlier this week, after the firm announced that major investors, who had been propping up the business, had withdrawn their support.
The firm’s shares were worth just 5.3p before they were suspended – down 87 per cent from a year ago.