Wilsons to appeal against Nasdaq de-listing
09/06/2008
Specialist leather apparel and accessorie retailer Wilsons The Leather Experts has been told by the authorities that run the Nasdaq stock exchange that its will be de-listed owing to the company’s ongoing difficulties and the lack of faith at Nasdaq that Wilsons can trade its way out of trouble.
However, Wilsons has requested a hearing before a Nasdaq panel to review the decision. Nasdaq has explained that the retailer has failed to comply with the minimum $10 million stockholders’ equity requirement.
The company’s shares will remain listed on the the Nasdaq market until the panel makes a formal decision following the appeal hearing.
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