What is the name of the formerly rich fishing grounds off the island of Newfoundland, Canada?

The formerly rich fishing grounds off the island of Newfoundland, Canada is known as the Grand Banks. These banks were once teeming with an abundant variety of fish and were particularly important for cod fishing in the past. The area earned its name due to its expansive size and the significant depths of the ocean floor. However, overfishing and various environmental factors have led to a decline in fish stocks in recent years, impacting the economy and fishing industry of the region.