Death of a Kiwi icon and the risk of growing
Pumpkin Patch was a highly successful business and a much loved brand in New Zealand. It ventured into Australia and successfully listed on the stock exchange. A growth into other countries would seem the next obvious step. At the peak of this growth Pumpkin Patch had over 200 stores in countries across the globe. Much of this growth was funded through debt - little cash remained after the listing on the stock exchange. Sadly such aggressive growth relied on really good sales especially in the USA an the United Kingdom - this did not occur. The growth also failed to see the gaps that existed in the internal operations of the business - such gaps could be managed in a small Australasian market but created serious problems operating a global business on this grand scale. When the problems set in, the cash did not exist to reverse the problems and this once loved business failed.