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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

(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.

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

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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