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From Home Furnishing Business
HH Gregg Gets De-Listing Notice from NYSE
February 6,
2017 by Larry Thomas in Financial Reports, Industry 
Retailer HH Gregg (NYSE: HHG) said it has been notified by the New York Stock Exchange that it could be de-listed because it no longer meets certain NYSE listing requirements.
According to the company, it is not in compliance because its average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders' equity was less than $50 million.
In addition, the company said it could be de-listed because its stock price has been below $1 per share for more than 30 consecutive trading days.
The retailer’s stock has been hammered in recent months as it has reported falling sales and several consecutive quarter of net losses. The stock opened Monday at 52 cents per share, well below its 52-week high of $2.63, which was attained last March.
The company said it intends to submit a plan to the NYSE that would bring it back into compliance with market capitalization rules within 18 months. It has six months to regain compliance with the rule regarding the share price.