It has gone from bad to worse for Pumpkin Patch - with its leader set for the door.
Pumpkin Patch CEO Di Humphries will finish up with the childrenswear retailer on November 4.
This follows a decision last week to decline offers to purchase the business.
The board is now focussed on lifting its embattled operations, after deeming the offers too low to accept.
Pumpkin Patch was pulled up by auditors last year after concerns it would breach the terms of its banking covenants.
The board is seeking a new CEO as part of a business transformation program.
Pumpkin Patch showed some signs of improvement in its last profit announcement.
Total revenue for the six months to 31 January 2015 from continuing operations was $121.9 million.
This was compared to $119.3 million for the comparable period last year, up 2.2 per cent.
Excluding reorganisation costs, net profit after tax for the six months was $1.5 million compared to $1.3 million last year, up 10.7 per cent.
After reorganisation costs, net profit after tax was $0.7 million for the half compared to $0.1 million last year.