Angling Direct closes 12 stores due to Tier 4 restrictions

Fishing tackle and equipment retailer Angling Direct has been forced to close 12 of its storefront locations after Downing Street moved to enforce new Tier 4 restrictions across parts of England over the weekend.

Angling Direct said on Monday that while it had shuttered a dozen of its locations to foot traffic, the group noted that they would remain trading with a call-and-collect service.

The AIM-listed firm highlighted that its other 26 stores and its website remained fully operational for both the UK and European sales, with its distribution centre geared up to fulfil increased demand.

In terms of recent trading, Angling Direct noted that positive sales momentum had continued since its update in early December and added that notwithstanding further restrictions impacting the rest of its store network, the group remained on track to deliver full-year 2021 underlying earnings of at least £3.8m.

As of 0935 GMT, Angling Direct shares were down 4.46% at 75.0p.