What does it show when it is NOT reading. i.e. do you see a line of dashes, or a message or just a blank screen.
If a blank screen then it seems likely that the power to the instrument has been interrupted. If you see anything on screen then at least the power is still there. Try the panel back light too.
Next question: Is the transducer an in hull or a through hull installation. In hull there is a possibility it has been knocked and not making proper contact with the hull, or if using oil to make contact, then this may have leaked away.
Through hull it could be well covered in antifouling paint. The manual says not to do this though I have never found it was capable of stopping the unit working.
The transducer could be damaged though they are normally very resistant to being bashed by yardies.
Is the instrument out in the weather? If the ST50 type these have a penchant to leak through the 4 screws that connect the front to the back of the case (Later models too).
Open the case and look for a tide mark about 3/8" up from the lower edge of the printed circuit board. If so its dead. If not put unit together again and cover screw head holes at back with pvc tape patches then put another band round the join covering the natty little red rubber gasket because this leaks too.
If none of the above get an old AM transistor radio, put it on long wave at the lowest frequency it will tune to. Make sure it is NOT tuned to a station, turn the volume up and hold it near to the instrument and then to the transducer (inside the hull). You should hear it go 'tick', 'tick', 'tick'.
If not the instrument is not transmitting - its dead.
If it is ticking and you still don't see anything on the display then suspect the transducer.
If you can get a transducer on loan from a pal just connect it to the instrument and dangle it over the side of the boat. It should read OK. They are fully sealed.
Incidentally most other makes of sounder transducers will give some readings in shallow water providing you can connect them to the instrument. It only needs two wires and one can work wonders by unbending paper clips and poking them into plug holes then using bits of stripped off wire insulation as sleeves on the other ends of the paper clips to hold them to plug pins.
Now you know all my secrets!
Good luck.