The Summer of 1992 in Newfoundland was a dark time in our history. It brought the collapse of the cod fishery and put 40,000 people out of work.
Federal Minister of Fisheries and Oceans, John Crosbie, declared a moratorium on the Northern Cod.
Newfoundland's fishery fell under the management of the Department of Fisheries and Oceans the department mismanaged the resource and allowed overfishing.
Overfishing was ongoing since the late 1950s, and there was an earlier partial collapse in the 1970s.
The moratorium in 1992 marked the largest industrial closure in Canadian history.
Throughout history the area was renowned as the world's most productive fishing grounds, was devastated by years of overfishing and incompetent fisheries management.