Discount appliance retailer Clive Peeters says it has abandoned a strategic review of the company after failing to find "an acceptable outcome".
At the same time, the company has forecast an operating loss before tax for fiscal 2009 of $4.5 million to $5 million, including non-recurring costs of $2.1 million.
This follows earlier guidance of "a nominal operating loss" in the year.
Clive Peeters said in a statement on Wednesday that it would not declare a final dividend in fiscal 2009.
Clive Peeters managing director Greg Smith said the company had been looking for a recapitalisation through its strategic review, but that it was "very difficult in this economic environment for small to medium listed companies to raise capital".
"So, for now, it's business as usual," Mr Smith said in a statement on Wednesday.
"Nevertheless we will continue to explore any genuine opportunities to strengthen our balance Sheet and to reduce our reliance on Debt going forward."
Clive Peeters began its strategic review in February this year.
(Clive Peeters is the listed owner of self-branded electrical and whitegoods chain Rick Hart.)
AAP
