CORRECT: Cavalier Corp shares fall 16% as it announces write-down

Thu, 22 Aug 2019

(Corrects to clarify forecast excludes the non-cash items in paragraph eight) By Rebecca Howard Aug. 22 (BusinessDesk) - Cavalier Corp shares fell 16 percent after it announced plans to write-down or impair the value of goodwill and various plant and equipment by as much as $9 million as it prepares to shift its strategic direction. The stock was recently at an all-time low 24 cents and has almost halved in value so far this year. The Auckland-based carpet maker said it is at an "early stage" in developing a new strategic directi...

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