Cavalier says price, volume increases needed to meet bank covenants

Tue, 27 Aug 2019

By Rebecca Howard Aug. 27 (BusinessDesk) - Cavalier Corp says the business is at risk of breaching its banking covenants if it can't sell more carpet this year or achieve higher prices. The firm, which today confirmed a $16.8 million net loss after $6.8 million of write-downs, said conditions remain "challenging" but it believes it remains a going concern and can meet its contractual obligations. "This going concern relies on future forecasts which are sensitive to sales volumes and margins and subject to material uncertainty if these...

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