Hanover Direct Inc. reported that it has received a notice from the American Stock Exchange advising that the company that it may lose its listing on the exchange if it does not come into compliance with quarterly report filing requirements by Dec. 31.
Hanover has yet to file it a report for the quarter ending Sept. 25. An audit committee for Hanover’s board of directors and independent outside counsel are reviewing accounting related matters.
Hanover said it expects to be able to file a preliminary report no earlier than mid January. If the exchange decides begin de-listing proceedings, Hanover does has a right to appeal that decision.
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