Victoria PLC (AIM:VCP) shares fell over 5% after the floor covering maker cancelled a plan to swap one type of its debt for another.
The company previously offered to exchange its existing senior secured notes (bonds) due in 2028 for second-priority notes.
But it's now decided not to go ahead with that offer, after speaking with some investors who own the 2028 bonds.
"The board has concluded there may be more advantageous solutions available to the company.
"In the meantime, the company will continue to take advantage of the medium-term maturity and favourable 3.75% coupon of the 2028 notes."
The shares fell to 55p in early trading.