The Bombay Company Delisted

June 25, 2007  by in UnCategorized   

By Home Furnishings Business in on June 2007 The Bombay Company, Fort Worth, Texas, announced Monday that the New York Stock Exchange will suspend the company’s common stock Thursday for not meeting its listing standards.

In late May, the retailer reported what officials called “disappointing” first-quarter results. The company later disclosed it had received notices that it was not in compliance with listing rules, including a requirement that the average closing price of common stock not drop below $1 for 30 consecutive trading days. Shares dropped 4 cents to 62 cents per share Monday.

The company, which operates 405 stores, reported a net loss of $15.4 million in the quarter that ended May 5 as revenues declined 11.9 percent to $104.6 million.