The receivers of embattled retailer Pumpkin Patch have announced more of its New Zealand and Australian stores will be shut down. A further 68 stores will be closed, including two earthquake damaged stores in the South Island that won't be reopening.
Layoffs have begun at Pumpkin Patch after no buyer has emerged. The struggling childrenswear company appointed administrators and entered receivership in October, and confirmed this week that the search for a buyer has met its end.
After the closure of seven stores in New Zealand, Pumpkin Patch’s receivers have announced they’re going to close 27 stores across the Tasman. KordaMentha receivers said the decision to shut down the stores was made to stabilise the wider business and improve the prospects of
In a not-so-surprising move, Pumpkin Patch went into receivership last week. Data from Roy Morgan Research has shown which of its competitors gobbled up its market share in the Australia over the last few years – and surprisingly, it wasn’t an international retailer.
If there’s anything to take away from the last year in the retail sector, it’s that it’s a tough market out there. There has been a string of high-profile foldings within the sector, including Wild Pair and Dick Smith. The latest to go under is
A comeback won’t be made in the short-term for embattled retailer Pumpkin Patch. It made a loss of $15.5 million in the year to July 31, while debt to its lender bank in New Zealand ANZ rose from $39 million to $46 million. Is there