Centric Brands Discloses Nasdaq Notice
Centric Brands, Inc (CTRC)
Last centric brands, inc earnings: 8/14 04:07 pm
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Centric Brands Inc. (the “Company”) (NASDAQ:CTRC), a leading lifestyle brands collective, announced today that on May 18, 2020, it received notification from The Nasdaq Stock Market LLC (“Nasdaq”), that due to the Company’s voluntary filing under Chapter 11 of the U.S. Bankruptcy Code on May 18, 2020 (the “Filing”), and in accordance with Nasdaq Listing Rule 5101, Nasdaq has determined that the Company’s common stock will be delisted from Nasdaq.This expected determination is primarily based on the Filing and associated public interest concerns raised by it. In addition, the Company had not yet filed its Annual Report on Form 10-K for the period ended December 31, 2019, and was not compliant with Listing Rule 5250(c)(1).Given the continued listing requirements of Nasdaq and the Company’s intent to emerge from the pending Chapter 11 case as a private entity, it does not plan to appeal the Nasdaq determination. Accordingly, trading of the Company’s common
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