Tailored Brands, Inc. (TLRD) said late Friday it has received a notice of noncompliance from the New York Stock Exchange earlier this week. The retailer behind Men's Wearhouse, Jos. A. Bank and other brands selling suits and other apparel said it is out of compliance with the NYSE's continued listing criteria, which requires listed companies to maintain a 30-trading day average market capitalization of at least $50 million plus an average closing share price of at least $1 over a consecutive 30 trading-day period, among other benchmarks. The company has 18 months to regain compliance, and the notice does not affect its business operations, reporting requirements, and debt obligations, it said. Shares continue to be listed and traded. Tailored Brands stock fell more than 3% in the extended session Friday after ending the regular trading day down 1.9%. Also earlier this week, the company announced layoffs and the closures of up to 500 stores as it tries to stay afloat amid the impact of the coronavirus pandemic and work-from-home trends.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 24, 2020 18:01 ET (22:01 GMT)
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