Furniture Brands to be delisted from NYSE

Posted on: 7:25 pm, August 23, 2013, by

Furniture stock photo

Furniture Brands International announced on Friday that it is delisting itself from the New York Stock Exchange.

The troubled company conducted a reverse stock split in May in an attempt to avoid being delisted.

Analysts have predicted that the company may be headed for liquidation or bankruptcy after a $40 million loss in the second quarter.

The company, based in St. Louis, the largest U.S. furniture manufacturer at $2.2 billion in annual sales in the early 2000s, primarily from divisions based in North Carolina – Broyhill Furniture Industries Inc., HDM Furniture Industries Inc. and Thomasville Furniture Industries Inc.

The company’s stock will trade in the over-the-counter market, OTCQB Marketplace, after being delisted from the NYSE.

 

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