Fisher & Paykel Appliances expects to write-down the value of its US assets by $NZ70 - $NZ75 million.
Last month the appliance maker issued a profit warning, saying weaker sales in the US could hit its full year profit by as much as 40%.
At its annual meeting in August, Fisher & Paykel said it expected to make a flat full year profit of nearly $NZ33 million.
By September, it admitted intense competition and weaker sales of high end appliances in the US means profits are forecast to fall up to 40%.
The company previously raised over $NZ200 million from investors to reduce debt earlier this year.
Fisher & Paykel says the assets, which include brands, plant, equipment and stock had an original value of $NZ119.5 million.
Now after the review that value will fall by somewhere in the range of $NZ70 - $NZ75 million dollars.
Acting chief executive Stuart Broadhurst says he's confident the new value is now an accurate reflection.
He says it's a one-off event and he's confident the assets will not need to be written down further.
After the announcement, Fisher & Paykel Appliances closed at 1 cent higher, on $0.64 per share.
