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Tailored Brands addresses NYSE listing standards

25
Jul '20
Pic: Tailored Brands
Pic: Tailored Brands
Tailored Brands was notified by New York Stock Exchange (NYSE) that it is no longer compliant with NYSE continued listing criteria requiring listed companies to maintain a 30-trading day average market capitalisation of $50 million along with stockholders’ equity of $50 million & average closing share price of at least $1 over consecutive 30 trading-day period.

The NYSE notification does not affect the company’s business operations or its Securities and Exchange Commission reporting requirements, nor does it trigger a breach under the company’s material debt obligations.

In accordance with the NYSE rules, within ten business days from receipt of the notice the company intends to confirm to the NYSE receipt of the notice and the company’s intent to cure the deficiencies and return to compliance with NYSE continued listing requirements. Under NYSE rules, the company may cure the deficiencies and regain compliance during the 18-month period following receipt of the notice. The company’s common stock will continue to be listed and trade on the NYSE during this period, subject to the company’s compliance with other NYSE continued listing requirements. If the company fails to regain compliance during the cure period, its common stock will be subject to the NYSE’s suspension and delisting procedures.

Tailored Brands is a leading omni-channel specialty retailer of menswear, including suits, formalwear and a broad selection of business casual offerings.? We help our customers look and feel their best by delivering personalised products and services through our convenient network of stores and e-commerce sites. Our brands include Men's Wearhouse, Jos A Bank, Moores Clothing for Men and K&G.

Fibre2Fashion News Desk (PC)


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