Roomstore Stock Price Bounces Back
Furniture Today Staff -- Furniture Today, September 16, 2011
RICHMOND, Va. - The RoomStore's stock price was back at 23 cents last week, close to its value before declining to 1 cent the previous week.
There was still no word from the Top 100 company on what may be causing the price fluctuations.
RoomStore's stock had closed at 26 cents on Aug. 29 but fell to 1 cent on Aug. 30 in light trading. It was back up to 23 cents on Sept. 2.
In its latest financial report with the Securities and Exchange Commission, filed Aug. 19 and covering the quarter ended May 31, the company noted that it "is currently evaluating raising additional capital through private equity investment, through strategic combinations and transactions, through revisions to contractual obligations or through the disposition of assets."
The company operates 66 RoomStores in eight states and 83 Mattress Discounters stores in Delaware, Maryland, Virginia and the District of Columbia. RoomStore owns a 65% stake in the mattress chain.
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