Holiday RV/Delisting: Restructuring Ops Since Sept>RVEE
Tuesday December 24, 10:36 am ET
LINCOLNSHIRE, Ill. (Dow Jones)--Holiday RV Superstores Inc. received a Nasdaq determination that its shares are subject to delisting, pending appeal, because the company failed to comply with shareholder-equity and market-value requirements.
In a press release Tuesday, the company said it requested a hearing before the Nasdaq listing qualifications panel to appeal the determination and seek continued listing.
In September, after receiving notice from Nasdaq that it didn't comply with certain listing requirements, Holiday RV disclosed a restructuring of operations, including debt conversion and equity infusion, but no layoffs or job cuts.
In late November, the company agreed to buy recreational vehicle operator Holiday Kamper and Boats, while selling its RV dealership in Bakersfield, Calif., in an attempt to refocus its operations.
Nasdaq trading in shares of the company, which has about 900,000 shares outstanding, Holiday RV closed Monday down 23 cents, or 12.9%, at $1.55. The stock traded at a 52-week low of 19 cents July 2, and traded at a 52-week high of $3.75 Aug. 9.
Company Web site: recusa.com
-Jason Philyaw; Dow Jones Newswires; 201-938-5400
Dow Jones Newswires
12-24-02 1036ET |
