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NYSE Warns Borders Stock Price Too Low For Continued Listing

DOW JONES NEWSWIRES Borders Group Inc. (BGP) said Friday the New York Stock Exchange warned that the price of its stock needs to rise above $1 a share in the next six months to continue its listing. Shares were down 2% at 39 cents in after-hours trading. Through the close of trading Friday, the stock has declined 67% in the last year, with shares particularly struggling in recent weeks as investors question the bookseller's ability to restructure outside bankruptcy court. The NYSE, a part of NYSE Euronext (NYX), notified Borders Thursday that the average closing price of its stock has failed to meet a $1 minimum over the last 30 trading days. In order to continue its listing, the company has six months to return the stock price to compliance. Earlier this week, Borders said it would delay January payments to vendors, landlords and others to preserve liquidity as it restructures its finances. Some reports have cited sources familiar with the matter as saying the company is preparing a filing for Chapter 11 bankruptcy protection. The company has struggled with dropping sales, as the bookselling industry at large grapples with the growing popularity of digital books. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Borders (BGP)
DateTimeHeadline
02/16/201109:14:36CORRECT: Borders Files For Chapter 11 Bankruptcy Protection
02/16/201107:59:47Borders Files For Chapter 11 Bankruptcy Protection
02/16/201107:53:02Borders Files For Bankruptcy Protection With $1.29 Billion Debt-Bloomberg
02/04/201118:38:33NYSE Warns Borders Stock Price Too Low For Continued Listing
01/30/201118:40:10Borders Again Delays Payments To Vendors, Also Skips Others
01/27/201118:38:48Borders Gets Potential $550 Million Of Financing From GE; Shares...
01/12/201117:18:53Borders To Shut Warehouse; Talks With Publishers On Tap -Report
01/04/201117:00:53MARKET SNAPSHOT: U.S. Stocks Get Boost From Fed Minutes
01/04/201115:42:13Agree Realty's Shares Hit The Skids As Borders Woes Deepen
01/04/201114:06:41MARKET SNAPSHOT: U.S. Stocks Pause In Run To Two-year Highs
12/31/201017:19:05MARKET SNAPSHOT: U.S. Stocks Extend Gains Into Second Year
12/31/201010:25:10MARKET SNAPSHOT: U.S. Stocks Set To End Strong Year With Minor...
12/09/201017:01:57Borders 3Q Loss Widens On Lower Sales, Margins; Stock Falls
12/06/201007:23:35Ackman Offers To Finance A Borders Buyout Of Barnes & Noble
10/08/201014:51:32How Ackman's Pershing Square Stalked J.C. Penney
09/30/201018:05:34Borders Shareholders Approve Share Issuance, Executive Proposal
09/29/201012:09:35Borders Delays Meeting On Share Issuance Until Thursday
09/28/201011:53:38Borders To Open 25 Seasonal 'Pop-Up' Stores In US Malls
09/02/201008:11:22Former Borders CFO Bierley To Take Same Job At Pantry
09/01/201010:14:19MARKET SNAPSHOT: U.S. Stocks Rally On Global Growth Hopes

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