Rebuilding collapsed fisheries is a multifaceted problem, requiring a holistic governance approach rather than technical management fixes. Using the Northern Gulf cod case study in eastern Canada, we illustrate how a ''fish chain'' framework, drawn from the interactive governance perspective, is particularly helpful in analyzing rebuilding challenges. The analysis demonstrates that factors limiting rebuilding exist along the entire fish chain, i.e., the preharvest, harvest, and post-harvest stages. These challenges are embedded in both the ecological and social systems associated with the Northern Gulf cod fisheries, as well as in the governing systems. A comparative analysis of the preand post-collapse of the cod fisheries also reveals governance opportunities in rebuilding, which lie in policy interventions such as integrated and ecosystem-based management, livelihood transitional programs, and crossscale institutional arrangements. Lessons from the Northern Gulf cod case study, especially the missed opportunities to explore alternative governing options during the transition, are valuable for rebuilding other collapsed fisheries.