Mega-wealthy business recluse Jan Cameron has lifted her stake in New Zealand-based clothing retailer Pumpkin Patch to nearly 10%.
The move has renewed speculation that she may be considering a takeover of the chain, which has been suffering from the tough economic climate.
Cameron, founder of adventure retailer Kathmandu, has invested $NZ4.54 million in Pumpkin Patch to increase her shareholding to 9.06%. This puts her in close company with Briscoe chairman Rod Duke (who holds 10%) and Setar Montani (who has around 12%).
Pumpkin Patch’s performance recently has been battered by underperforming excursions into the US and British markets.
The company bought back 8.45 million shares in November in attempt to get the share price over $NZ1, and cut 30 jobs at its head office in October after announcing a 27.5% fall in profit.
Cameron is famously tight-lipped about her investments, and almost never comments to the market or media.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
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