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RadioShack gets another delisting warning from the NYSE
January 22, 2015 / 11:48 PM / 3 years ago

RadioShack gets another delisting warning from the NYSE

The sign outside the RadioShack store is seen in Westminster, Colorado December 11, 2014. REUTERS/Rick Wilking

(Reuters) - RadioShack Corp RSH.N said the New York Stock Exchange had issued a fresh warning that it could delist the struggling electronics retailer as its average market capitalization had stayed below $50 million for more than 30 consecutive days.

RadioShack, which is expected to file for bankruptcy by next month, received the notice on Jan. 15 and has 45 days from then to give the exchange a business plan showing it can regain compliance within 18 months, the company said.

The company received a similar warning in July after its stock closed below $1.00 for more than 30 trading days in a row.

RadioShack, which has posted losses for 11 consecutive quarters after failing to transform itself into a destination for mobile phone buyers, said the notice would not affect its debt obligations.

The company’s shares have fallen 88 percent in the past 52 weeks. They last closed at $1 on Oct. 30.

The company had a market capitalization of $30.21 million based on its Thursday closing price of 30 cents.

Reporting by Shailaja Sharma in Bengaluru; Editing by Simon Jennings

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