The Bon-Ton Stores Inc. announced today the Nasdaq has withdrawn a deficiency letter threatening to delist the retailer.
The Boston Store parent, which has dual headquarters in Milwaukee and York, Pennsylvania, received notice last week that for the past 30 consecutive business days the market value of its publicly-held shares fell below the Nasdaq’s $15 million threshold.
Nasdaq had given Bon-Ton until Sept. 5 to come into compliance with the rule to remain listed on the Nasdaq Global Select Market, by meeting or exceeding $15 million for at least 10 consecutive days during the 180-day grace period.
The company said in this morning’s announcement it had discussions with Nasdaq about the publicly held shares outstanding and it was resolved that Bon-Ton does meet the minimum required value.
