Frederick’s of Hollywood Faces Stock Delisting
Frederick’s of Hollywood Group Inc. has received notice that its stock could be delisted, according to the company.
The lingerie direct marketer received a letter from the NYSE Amex exchange indicating its stock could be delisted because it had less than $2 million in shareholder equity for the quarter ended Jan. 23while sustaining losses from continuing operations and net losses in two out of its three most recent fiscal years and net losses in three out of its four most recent fiscal years, according to the company.
Those conditions reportedly violate exchange rules for continued stock listing.
The firm has until May 17 to submit a plan to outlining how it intends to regain compliance with these continued listing standards by Oct. 17, 2011.
Frederick
