The outside of a Pumpkin Patch outlet. Employees of children’s clothing retailer Pumpkin Patch — thrown into receivership last week — are relieved receivers yesterday reversed a decision to make deductions from wages for a now worthless share scheme. First Union general-secretary Robert Reid said despite earlier assurances from the receivers, Pumpkin Patch’s payroll office had advised staff they would continue to make deductions from wages for the shares. Pumpkin Patch had more than 190 outlets employing more than 2000 staff, across New Zealand, Australia and Ireland. Floated in January 2007, its shares initially traded at $4.95, but plummeted to 26c last November, and last traded at 6c.

Source: Otago Daily Times November 03, 2016 17:10 UTC