Furniture Brands to be delisted from NYSE

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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