M
Mr. Man-wai Chang
Guest
Summary: RadioShack shares have been suspended from trading on the New
York Stock Exchange (NYSE) even as it continues to seek a rescue from
possible bankruptcy.
The NYSE said the US electronics firm had failed to comply with its
listing standards, and that it was "taking action" to delist the shares.
RadioShack has shed about 90% of its market value over the past year as
its financial woes deepened.
The firm will have to shut down all of its stores unless a bidder emerges.
RadioShack shares have traded below $1 since November and tumbled a
further 13% on Monday to close at $0.24.
The NYSE said it was forced to act because the "company does not intend
to submit a business plan to address its non compliance" with its
listing standards of a $50m (ÂŁ33m) average market over 30 consecutive days.
The 92-year-old firm has struggled to maintain sales and customer
loyalty in the face of competition from Walmart and online retailers
such as Amazon.
The firm warned last year that it may have to seek Chapter 11 bankruptcy
and its chief executive recently warned it might not be able to find a
long-term plan to stay afloat.
RadioShack first opened in 1921 as a mail-order retailer before
expanding into electronics.
It operates approximately 4,485 stores in the US, which sell everything
from mobile phone accessories to converters.
Source: http://www.bbc.com/news/business-31105767
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York Stock Exchange (NYSE) even as it continues to seek a rescue from
possible bankruptcy.
The NYSE said the US electronics firm had failed to comply with its
listing standards, and that it was "taking action" to delist the shares.
RadioShack has shed about 90% of its market value over the past year as
its financial woes deepened.
The firm will have to shut down all of its stores unless a bidder emerges.
RadioShack shares have traded below $1 since November and tumbled a
further 13% on Monday to close at $0.24.
The NYSE said it was forced to act because the "company does not intend
to submit a business plan to address its non compliance" with its
listing standards of a $50m (ÂŁ33m) average market over 30 consecutive days.
The 92-year-old firm has struggled to maintain sales and customer
loyalty in the face of competition from Walmart and online retailers
such as Amazon.
The firm warned last year that it may have to seek Chapter 11 bankruptcy
and its chief executive recently warned it might not be able to find a
long-term plan to stay afloat.
RadioShack first opened in 1921 as a mail-order retailer before
expanding into electronics.
It operates approximately 4,485 stores in the US, which sell everything
from mobile phone accessories to converters.
Source: http://www.bbc.com/news/business-31105767
--
@~@ Remain silent. Nothing from soldiers and magicians is real!
/ v \ Simplicity is Beauty! May the Force and farces be with you!
/( _ )\ (Fedora release 21) Linux 3.18.3-201.fc21.i686+PAE
^ ^ 02:39:02 up 5 days 22:11 0 users load average: 0.00 0.01 0.05
¤ŁÉśU! ¤ŁśBÄF! ¤Ł´ŠĽć! ¤ŁĽ´Ľć! ¤ŁĽ´§T! ¤ŁŚŰąţ! ˝ĐŚŇź{şî´Š (CSSA):
http://www.swd.gov.hk/tc/index/site_pubsvc/page_socsecu/sub_addressesa