According to a report in The Coaster, Nell Halse, the company's communications officer said that the decision had been taken because the cost of production had been much higher than expected.
Costs had affected both the feed and the growing programme.
At the same time the amount of wild cod is increasing and the prices for cod are falling.
She told The Coaster that the company had been unsuccessful in finding new funding for the programme from either investors or the government.
The report says that Cooke Aquaculture will continue raising its 155,000 cod already stocked at Northwest Cove in Hermitage Bay. These fish will be ready for processing in the autumn of 2012.
However, the company is not restocking or taking on any new projects although it will continue with its research project in Hermitage Bay.
Cooke Aquaculture Closes Cod Nursery
CANADA - Cooke Aquaculture has closed its cod nursery in Belleoram reducing the size of its operation in the Coast of Bays.
