DWR Granted Deadline Extension

January 28, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on January 2007 Contemporary retailer Design Within Reach has received another extension for filing its quarterly report for the third quarter ended Sept. 30.

The Nasdaq Listing Qualifications Panel has extended the company’s deadline to Feb. 20. If the retailer is unable to meet the deadline, the panel will delist Design Within Reach’s stock.

Last year, the retailer was told it was subject to delisting if it did not file its report for the second quarter ended July 1, 2006, as well as any other restatements, by Jan. 15.

Design Within Reach met the deadline for filing the second quarter results.

The retailer said the late filing of its third quarter results is because of the “substantial commitment of personnel and other resources that were necessary to complete the reconciliation of a previously announced unreconciled difference between the company’s accrued inventory sub-ledger and general ledger and to finalize” its filing for the second quarter.