NYSE to drop Dan River
By Staff -- Home Textiles Today, 2/2/2004 12:00:00 AM
NEW YORK —
The New York Stock Exchange said it will suspend trading in shares of Dan River on Feb. 3 or earlier, and de-list the stock from the Big Board.
The action comes after the stock fell below the exchange's minimum-share-price requirement of $1.
Dan River said it "intends to seek to trade its class A common stock on the OTC bulletin board."
Dan River is the latest casualty of stunted share prices in the home fashions business. Earlier the NYSE de-listed WestPoint Stevens, Pillowtex and Crown Crafts.
Only home-fashions producers Mohawk Industries, Quaker Fabric and Culp have stock worth more than $1.00 a share.
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