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HomeNEWSAnother loss for Pumpkin Patch: Josette Prince steps down

Another loss for Pumpkin Patch: Josette Prince steps down

Pumpkin Patch director Josette Prince’s resignation from the board has prompted the company to confirm its earnings guidence for the current financial year. Prince formally resigned last Thursday, citing other business and travel commitments as her reasons for stepping down.

The company confirmed EBITDA to be in the range of $2.8 million to $3.4 million for the current financial year.

This is the latest resignation for the financially troubled company, which is in the midst of a four-year recovery plan. The board said it was reviewing options to fill the vacated position.

Prince was appointed a director in July 2014, and since then the board and the executive have gone through a reshuffle.

Former Warehouse Group financial officer Luke Bunt became the company’s new managing director in October 2014, replacing Di Humphries.

The group reported a loss of $6.7m for the half-year to January 31, 2015, compared with a profit of $749,000 for the same time the year before.

Sales were $102.8m compared to $121.9m last year, largely due to the loss of key international wholesale accounts and a drop in sales through online.

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