Children’s clothing retailer, Pumpkin Patch, has reduced its forecast earnings and has pushed back the date it will release its trading results for the 2015 financial year.

In a statement to the market the company explained: “In the process of finalising its 2015 financial accounts the company has become aware of certain risks which are expected to result in an unanticipated increase in provisioning against the carrying value of working capital.”

Pumpkin Patch is now forecasting normalised EBITDA to be between $11.6 million and $11.8 million, down from approximately $14 million in previous forecast provided to the market.

Pumpkin Patch is “in advanced discussions” with its bank to schedule an extension of banking facilities.

“When combined with additional impairment adjustments, including further adjustments in relation to under-performing stores, reported after tax losses for the year will now be above the modest level previously advised,” the company said.

The company was scheduled to announce its results today but will now release its financial results for the year ended July 31, 2015 on September  30.