Photo NZ HeraldThe future of clothing retailer Pumpkin Patch is in doubt after the company issued a statement saying there was virtually no value left in its equity after discussions with its bank were unsuccessful. Its shares have been placed in a trading halt this morning ahead of a company announcement. The value of Pumpkin Patch shares has fallen 49 per cent in the last 12 months. Pumpkin Patch shares were the biggest decliner on the NZX yesterday, dropping 16.6 per cent to 6c per share as the deadline loomed for directors to propose measures to address its capital constraints. "This further work coupled with discussions with the bank and certain key stakeholders has generated substantial uncertainty, which remains ongoing, regarding the company's future in the context of its current financing arrangements," Pumpkin Patch said in a statement to the NZX.

Source: Otago Daily Times October 20, 2016 21:33 UTC