Retail Industry
Industry: Email Alert RSS FeedSHOE PAVILION FACES DELISTING.(Shoe Pavilion Inc.)(Brief Article)
Footwear News, March, 2001
Shoe Pavilion Inc., the purveyor of off-price footwear, faces the risk of being delisted from the NASDAQ National Market, the firm recently revealed.
According to the Richmond, Calif.,-based company, it was notified that it failed to meet the minimum market value of a public-float requirement.
Under this rule, the company's approximately 2.3 million common stocks must trade at approximately $2.17 per share for a minimum of 10 consecutive trading days.
Shoe Pavilion is expected to appeal the delisting notification and soon will request a hearing before a NASDAQ listing qualifications panel to review the determination. If the panel does not grant the firm's request to remain on the National Market, the company said it plans to apply for...
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