(Filed Under Financial and General Interest News). Frederick’s of Hollywood Group Inc. has received a notice from the New York Stock Exchange (NYSE) “indicating that, based on the company’s shareholders’ equity as reported in its Form 10-K for the year ended July 28, 2012, the company is not in compliance with Section 1003(a)(iii) of the NYSE MKT Company Guide, having less than $6 million of shareholders’ equity while sustaining losses from continuing operations and net losses in its five most recent fiscal years,” according to a company statement.

On November 30, 2011, Frederick’s had received a notice from the NYSE MKT indicating that, “based on the company’s shareholders’ equity as reported in its Form 10-K for the year ended July 30, 2011, the company was not in compliance with Sections 1003(a)(i) and (ii) of the NYSE MKT Company Guide, having less than $2 million and $4 million of shareholders’ equity while sustaining losses from continuing operations and net losses in two out of its three most recent fiscal years, and net losses in three out of its four most recent fiscal years, respectively.”

The statement continued that “On January 6, 2012, the company had submitted a plan to the NYSE MKT addressing how it intended to regain compliance with those continued listing standards by May 30, 2013, which plan was accepted by the NYSE MKT. The company intends to supplement its compliance plan by December 31, 2012 to address how it will regain compliance with Section 1003(a)(iii) of the NYSE MKT Company Guide.”

Frederick’s common stock “continues to trade on the NYSE MKT under the symbol “FOH” with the trading symbol extension “BC” to denote non-compliance with the NYSE MKT’s continued listing standards.

The company currently operates 119 specialty retail stores, a catalog and an online shop.

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Published 12-11-2012 by -