Pumpkin Patch says equity value eroded after unsuccessful talks with bank, stakeholders

Thu, 20 Oct 2016

By Sophie Boot Oct. 21 (BusinessDesk) - Pumpkin Patch, the embattled childrenswear retailer, says there's virtually no value left in its equity after discussions with its bank were unsuccessful. In its full-year results published last month, the Auckland-based company told investors that its directors had given an undertaking to the bank that it would put forward proposals by yesterday, Oct 20, although this was later pushed out to Oct. 31. The capital constraints were highlighted in the accounts as a "material risk" to the ongoing viabil...

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