Jennifer has until July 5 to comply with AMEX
By Furniture Today Staff -- Furniture Today, March 27, 2006
Woodbury, N.Y. — The American Stock Exchange has granted specialty retailer Jennifer Convertibles an extension of time to bring itself into compliance with the listing requirements of the exchange.
The company said it received a letter from the stock exchange extending the deadline until July 5, 2007. If the company isn't in compliance by that date, its stock will be delisted.
It could be delisted sooner if AMEX determines the company is failing to make adequate progress towards compliance, the company said.
Jennifer was warned in January that it didn't have sufficient shareholders' equity to meet listing requirements, but the retailer has since submitted a plan that it believes will put it back in compliance by the stock exchange's deadline.
The company operates 177 Jennifer Convertibles stores and 16 Jennifer Leather stores. All but 24 of the units are company-owned.
