Yellowtail Flounder is a popular product for the region, but catch limits have been trimmed by 25 per cent to only 734 metric tonnes for the area.
The biggest cut of all was actually to the George's Bank Cod quota - a massive 66 per cent decrease down to 608 metric tonnes.
Multi-species fisheries suffer from 100 per cent catch retention, so even though the George's Bank Haddock quota increased to 52,000 Metric Tonnes, cod catch limits will prevent full harvest.
If fishing continues at the same pace as last year, the fishery could close as early as September or October.
Double digit cuts to all flat species will leave buyers scrambling for substitutes.
