The NYSE warning for RadioShack comes after the company has remained below an average market capitalization of $50 million for over 30 days. The company has posted losses for the last 11 quarters and is expected to file for bankruptcy next month, reports Reuters.
The delisting warning was sent to RadioShack on Jan. 15. The warning allows to company 45 days to come up with a plan to show how it can turn itself around in an 18-month period. The first delisting warning was sent to the company in July of last year, Reuters notes.
Part of RadioShack’s plan for a turnaround involves the closing of 1,100 locations that aren’t performing well. However, it has been unable to get approval from lenders to close all of these stores, reports Bidness ETC.
RSH shares were up 12% as of Noon Friday.
More From InvestorPlace