Hanover Direct Inc. said Friday that the American Stock Exchange will take the additional step of delisting the company's common stock, which hasn't been traded since November.
Hanover, Edgewater, NJ, markets home, apparel and gift items via catalogs and the Internet under brand names such as Domestications, The Company Store, Company Kids, Silhouettes, International Male, Scandia Down and Gump's by Mail.
Amex's decision to file an application with the Securities and Exchange Commission to delist Hanover's stock is based on the company's failure to file its quarterly report on Form 10-Q with the SEC for the fiscal quarter ended Sept. 25, 2004. Filing these reports is a requirement of being listed on the exchange.
Hanover was warned last month by the exchange that it might be delisted if the company did not regain compliance by Dec. 31.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters