A UK leather business I guess they fell on bad times with the BSE and Foot and Mouth. More recently cheap imports and still there is no sign of recovery. This share was 48p only a year or so ago. They have some top-drawer customers (maybe not enough) so why is there no interest here?
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At this rate they will soon be a recovery play - full market listing (I understand - DYOR) so PEP/ISA-able if recovery is on the cards, or maybe a takeover if their customer-list is still healthy. I still don't have shares in them, but they've been to several Investor Exhibitions in the past. The reason is I like "technology" stocks.

I haven't followed the stock for over 4 years, and today I just read a note that would be interested to be on the thread I thought .........

Pittards share price leathered

Shares in Aim-traded leather goods manufacturer Pittards (PTD: 106p), a constituent of my 2015 Bargain share portfolio, have been marked down 17 per cent this morning after the company issued a profit warning alongside its half year results.

The company did deliver the profit uplift I was looking for in the first half of the year: operating profits rose by half to £752,000, albeit revenues were down 10 per cent to £15.6m. The fall in turnover was as a result of a reduction in demand for military orders, the timing of the cold winter period in the US affecting dress glove leathers, events in Russia and lower demand in the golf category. However, favourable currency movements, price increases and lower hide prices (reflecting the fall in global demand) meant that gross margins jumped by three percentage points and gave a boost to profits which more than compensated for the revenue shortfall.

The problem being that the economic chill from Asia, and the economic slowdown and turmoil in China, in particular, have reduced demand for leathers in July and August, a trend that was confirmed at international trade fairs attended by the company recently. As a result analyst John Cummins at house broker W.H. Ireland has pulled back his full-year revenue estimate from £37.5m to £31.5m and downgraded pre-tax profit estimates by a fifth to £1.6m, implying a flat profit performance on 2014 rather than the recovery I was anticipating. On this basis, expect EPS of 11p.

Mr Cummins has also taken a cautious view to prospects for next year too, reining back revenue estimates by 14 per cent to £34.1m and pre-tax profit forecasts from £2.2m to £2m. The profit downgrade is far less severe than the revenue decline due to the improvement in gross margins (forecast to be 23 per cent for both 2015 and 2016).

Still, this is a marked turnaround from the trading outlook earlier this year when there appeared potential for volume increases to boost Pittards’ earnings. The positive being that the company should be able to deliver on the revised analyst forecasts as I foresee the three factors underpinning the improvement in gross margins continuing for some time yet to support profits and compensate for some of the revenue headwind the leather industry is facing right now. Moreover, the bad news looks priced in for a company forecast to turn in a flat profit performance this year.
That’s because with Pittards’ offer price falling this morning to 106p, down from my recommended buy-in price of 129p, the forward PE ratio is very modest at 9.5 and the shares are trading on a chunky 38 per cent discount to net asset value of 171p. Hold.

Sorry don't really follow... is their Market still falling so expect Leather generally to fall also?
CONsolidations leave me cold, as I don't see they create any "value" unless you are a City Adviser!. Very rarely do they result in a rising sp - more often they make folks look at the business and if they don't-like, they Sell - so a CONsolidation is a signal to sell, before the next man does...
19Nov2015...About 95p mid.