Shares in Fishworks chain are frozen

THE future of the Fishworks restaurant chain looked bleak today after trading in its shares on the Stock Exchange was halted.

The company, which has outlets in Chelsea, Chiswick, Primrose Hill, Islington, Marylebone, the West End and Richmond, where it also has a cookery school, said that it "has continued to experience ... challenging market conditions".

After talks with its bank Fishworks said it had asked for trading in its shares to be suspended "pending clarification of the company's financial position and strategic options".

The company, which also has wet fish counters at its restaurants, revealed a £5.5million loss in November. The shares were trading at 1.85p yesterday but had been as high as 50p in 2006.

However another food chain, Domino's Pizza, appears to be flourishing in the downturn as worried consumers opt to eat at home. It reported a 10 per cent increase in like-for-like sales to £350.8 million in the year to 28 December and opened 50 new stores.