From Home Furnishing Business
Furniture Brands Falls Below Listing Requirements
2013 by Home Furnishings Business in Economic News, Industry
The Company is considered below criteria established by the NYSE for continued listing standards because its average market capitalization
has been less than $50 million over a consecutive 30-day trading period and its last reported shareholders' equity was less than $50 million.
Under NYSE rules, the Furniture Brands has 45 days from the date of the notice to submit a plan to the Exchange to demonstrate its
ability to achieve compliance with the market capitalization listing standards within 18 months of receiving the notice.
In a statement today, Furniture Brands indicated its intention to submit such a plan and has notified the NYSE that it intends to cure the deficiency within the required timeframe.
In the event the NYSE approves the plan, Furniture Brands' shares will continue to be listed and traded on the NYSE during this 18 month cure period, subject to quarterly monitoring and compliance with other continued listing standards.