Pangasius has been struggling in Europe -- and the situation is getting worse.

A raft of negative media reports resulted in a public outcry at the beginning of the year, with the biggest hit coming when retailer Carrefour pulled the fish from its stores in Spain, Belgium and Italy.

And the impact has been huge.

Inlet, which is the second biggest importer of pangasius and the first company to sell the fish in Spain, saw its sales drop 75 percent in February and March, respectively.