Coldwater Creek receives non-compliance notice from Nasdaq

21 Jun '06

2 min read

Leading women's apparel, accessory shoe & gift retailer Coldwater Creek Inc announced that it received a Nasdaq Staff Determination on June 14, 2006 stating that Coldwater Creek is not in compliance with Marketplace Rule 4310(c)(14) because its Quarterly Report on Form 10-Q for the quarter ended April 29, 2006 (the "Form 10-Q") filed on June 8, 2006 was incomplete.

The notice is automatically generated by Nasdaq in these circumstances and indicated that due to such noncompliance, Coldwater Creek's common stock will be subject to delisting.

As indicated in the Form 10-Q, the Company's independent registered public accounting firm had not completed its review of the financial information included in the Form 10-Q when it made the filing due to the Company's pending restatement of certain historical financial information. As a result, the Company was unable to provide the officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 with the Form 10-Q.

In the interim, the Company is working diligently to complete the amendment to its Form 10-K for the fiscal year ended January 28, 2006 to reflect the restated financial information so that the Company's independent registered public accounting firm can complete its review of the financial information in the Form 10-Q. Once this review is completed, the Company intends to file as soon as possible a fully compliant amended Form 10-Q/A, including the certifications required under Section 906 of the Sarbanes-Oxley Act.

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