Community Chat

[BalletBabe]

homeshoppingista June 10

Some observers have seen this coming for awhile. Nasdaq on Monday gave Qurare Retail Group, owner of QVC and HSN, notice that its stock is at risk of being delisted by that exchange.

It's a warning of possible delisting for failure to satisfy a continued listing rule or standard.

That's because "the closing bid price for the company’s Series A common stock, par value $0.01 per share, has fallen below $1 per share for 30 consecutive business days," Nasdaq said.

In other words, the stock has tanked for a month.

In a securities filing, Quarate said, "Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the company has been provided an initial compliance period of 180 calendar days, or until Dec. 9, to regain compliance."

To regain compliance, the stock's closing bid price must meet or exceed $1 ar share for a minimum of 10 consecutive business days prior to Dec. 9.

If at any time during this 180-day compliance period the closing bid price meets these requirements, then Nasdaq will provide Qurate with written confirmation of compliance and the matter will be closed.

If the company doesn't regain compliance by the December deadline, it will be eligible for an additional 180-day compliance period if it applies to transfer the listing of the stodkto the Nasdaq Capital Market.

To qualify, Qurate would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement.

In addition, the company would be required to provide written notice to Nasdaq of its intent to cure the minimum bid price deficiency during this second compliance period by effecting a reverse stock split if necessary.

If Qurate doesn't regain compliance within the allotted compliance period(s), including any extensions, Nasdaq will provide notice to the company that it will subject to delisting. But that's not final.

Qurate would then be entitled to appeal Nasdaq’s delisting determination.

"The company intends to monitor the closing bid price of [Qurate] and consider its available options to resolve the noncompliance with the minimum bid price requirement," it said. "No determination regarding the company’s response has been made at this time. There can be no assurance that the company will be able to regain compliance ... or will otherwise be in compliance with other Nasdaq listing criteria."

This doesn't mean QVC or HSN are going out of business. But it's not good.

[Kachina624]

@BalletBabe.  Didn't the same thing happen several months ago?

[Othereeeen]

@BalletBabe 

Interesting...I think this is the second threatened delisting  in the last year...

When I saw your note, I first though they posted a Federal "WARN" notice (" Worker Adjustment and Retraining Notification")...the WARN act...

Which must be posted when employers are going to do a large layoff, close, or otherwise disrupt businesses...they are required to post this notice several weeks in advance...

You can look up WARN notices for your state.....just type in (YOUR STATE) WARN notices and you can see them listed for various companies.

I beleive the requirement is if it's above a certain number of employees employed at a business  who will be affectedby layoff.

It's usually listed by month.

Note: There are ALWAYS "WARN" notices posted....companies shed employeesand close all the time and if they meet the requirement to post the notices, they do.

[Desertdi]

It's a Series A (preferred) stock...mostly held inside the company.   

[SharkE]

I wish I could buy stock in Chick fil a

Private.  Always lined up around the corner down here

Got trade left and right

[Sooner]

On the chopping up.  Needs a buy-out or else it seems.  

[BalletBabe]

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@Kachina624 wrote:

@BalletBabe.  D8dn5 the same thing happen several months ago?

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@Kachina624 Who is that Kachina?

[SharkE]

If QVC goes out I'll be naked and no jewelry LOL

Be lot more money though . ahhahahahhahahha

[BalletBabe]

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@Othereeeen wrote:

@BalletBabe 

Interesting...I think this is the second threatened delisting  in the last year...

When I saw your note, I first though they posted a Federal "WARN" notice (" Worker Adjustment and Retraining Notification")...the WARN act...

Which must be posted when employers are going to do a large layoff, close, or otherwise disrupt businesses...they are required to post this notice several weeks in advance...

You can look up WARN notices for your state.....just type in (YOUR STATE) WARN notices and you can see them listed for various companies.

I beleive the requirement is if it's above a certain number of employees employed at a business  who will be affectedby layoff.

It's usually listed by month.

Note: There are ALWAYS "WARN" notices posted....companies shed employeesand close all the time and if they meet the requirement to post the notices, they do.

I get these things in my email because I belong to Linda Mosses blog. .  .  I like t because you can ifnd things out faster by being part of it.  It is interesting and it is all news from all home shopping channels, not just QVC. 

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[BalletBabe]

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@SharkE wrote:

If QVC goes out I'll be naked and no jewelry LOL

Be lot more money though . ahhahahahhahahha

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@SharkE     I really hope they don't go under.  Their prices are terrible anymore.  The thing that makes me wonder is I havebeen sent two survey's in the past two weeks. I have never gotten them before.