Pumpkin Patch may breach banking covenants if Christmas sales underperform

Tue, 25 Nov 2014

By Suze Metherell Nov. 25 (BusinessDesk) - Pumpkin Patch chair Peter Schuyt says trading conditions remain challenging and the unprofitable childrenswear retailer is in risk of breaching its banking covenants if Christmas sales disappoint. The shares dropped. The Auckland-based company's annual report, which was tagged by its auditor, shows the retailer renegotiated the terms of its banking arrangements with ANZ Bank New Zealand, which the board saw as "prudent to provide accommodation for potential adverse results arising from a challeng...

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