Don't catch fish, reportedly, and lose (8)
I believe the answer is:
misplace
'lose' is the definition.
(to misplace something is to lose it)
'don't catch fish reportedly' is the wordplay.
'don't catch' becomes 'mis' (I can't justify this - if you can you should give a lot more credence to this answer).
'fish' becomes 'plaice' (plaice is a kind of fish).
'reportedly' indicates a 'sounds like' (homophone) clue.
'plaice' is a homophone of 'place'.
'mis'+'place'='MISPLACE'
'and' is the link.
(Other definitions for misplace that I've seen before include "Do bad filing" , "Wrongly put - lose" , "Be unable to find" , "Lose temporarily - put in wrong location" , "Mislay" .)