Frecklington was appointed as Trinity boss last February and kept the club in the Vanarama National League North last season.
However, this campaign has been another struggle for the Lincolnshire club and they were heavily beaten 5-0 at Bradford Park Avenue on Monday night - a result that leaves them hovering a point above the relegation zone.
The Trinity board have moved swiftly to announce that a change will be coming with hopes of turning their season around like some of their rivals have.
A club statement read: "With thirteen games and 39 points up for grabs between now and the end of the season, it was felt that a change at the helm could have a similar impact to that of Craig Elliot at Boston; Tom Greaves at FC United or Chris Moyses at Alfreton, all who have hit the ground running and strung positive results together quickly. Results that look to have moved them away from danger.
"The decision, however, has not been taken lightly due to some of the fantastic achievements Dave and Terry have overseen, keeping us up last season and winning the Lincolnshire County Cup under the lights at the Martin & Co Arena.
"Added to that, reaching the First Round Proper of the FA Cup, the journey, the adventure we went on during that run will live long in the memory. Not to mention the funds that run has brought into the club being a valuable shot in the arm.
"Unfortunately, with a mixed run of results and the club sitting just above the relegation zone, we felt we had no choice but to act quickly. An announcement on a replacement will be made in due course."
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