A number of alternatives are under consideration it said, to reinforce the working capital position before the next year end in March.
New equity is one option, but the discount to the group's net asset value makes that a relatively unattractive route compared to the other alternatives, it said.
In November, Gibbons scrapped its interim dividend as profits tumbled to £0.4mln from £3.7mln.
The firm had already cautioned that weakness its Asia and difficult market conditions for some of its more high-value stock would affect full year numbers.
Shares fell 10% to 61.7p.