Clive Peeters calls trading halt

Trading suspended pending discussions with financiers for a retailer that has been rocked by fraud

ASX-listed retailer, Clive Peeters (ASX: CPR) has called a trading halt.

In a statement to the ASX, the retailer claimed it called the trading halt pending the outcome of discussions with financiers. The retailer anticipated the trading halt would cease once an announcement was made, or it commenced normal trading on Friday.

In February, it was revealed that Clive Peeters was able to report a break-even operating profit for the half-year ending December 31, despite being hit by a multi-million dollar accounting fraud.

However, in an earlier release to the ASX this month, the retailer said it expected a loss of $4.5m for the three months January-March 2010, as a result of a tough economic environment for retailers.