NYSE accepts Rowe's plan to comply with listing rules
By Furniture Today Staff -- Furniture Today, November 11, 2001
McLean, Va. — The Rowe Companies said the New York Stock Exchange has accepted its plan spelling out how the upholstery maker and retailer intends to comply with the exchange's listing standards.
Rowe said its common stock would continue to be traded on the NYSE, subject to the company meeting certain interim and ongoing objectives as outlined in the plan.
The exchange told Rowe in September that it had fallen below standards requiring listed companies to have market capitalization and stockholders' equity of $50 million each. At the close of trading Sept. 21, the company said it had a market cap of $26.1 million and total stockholders' equity of $46 million.
The Rowe Companies is comprised of manufacturers Rowe Furniture and The Mitchell Gold Co., and retailers Storehouse and Home Elements.
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