There was further strife today at Victoria, the maker of the red carpet at the wedding of Prince William and Kate Middleton.
Last month the firm saw its chairwoman ousted after a boardroom coup.
Today it said that the company would “break even at best” this year having begun a “detailed review” of the state of the business.
Current trading “remains weak and significantly behind budget”, a company statement said.
Katherine Innes Ker lost the leadership of Victoria in October after a plan to oust her was backed by 69% of shareholder votes.
Those shareholders today saw the value of their investment plunge on the latest news, as the company’s shares tumbled by 37.5p to 207.5p.
Alexander Anton, a member of the founding family, is rejoining the board of the Kidderminster-based firm as a non-executive director.
Anton, a former chairman of the company, was one of three directors who quit in August amid a row over performance and pay proposals.
Victoria Carpets employs about 700 people in the UK and Australia.
It was founded in 1895 in Victoria Street, Kirkcaldy, before moving to Kidderminster in 1905.
Victoria said that higher UK sales had been offset by sharp falls in Australia.
