Pumpkin Patch stock sinks to record low on concern ailing retailer may seek more capital

Tue, 25 Nov 2014

By Suze Metherell Nov. 26 (BusinessDesk) - Pumpkin Patch shares fell to a record low on concern the unprofitable children's clothing chain may seek new capital to bolster its balance sheet after saying it may breach bank covenants. Chairman Peter Schuyt told shareholders at their annual meeting yesterday that trading conditions were "challenging" and the retailer at risk of breaching banking covenants should Christmas sales disappoint. The company has hired investment bank Goldman Sachs to review its capital structure and look at "other s...

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