SAN FRANCISCO–Nearly two weeks after announcing its filing for Chapter 11 bankruptcy protection, The Sharper Image said yesterday that its stock has been delisted from the Nasdaq Stock Exchange.
The move occurred in light of the Chapter 11 filing and because of concerns about the residual equity interest of the existing listed securities holders, and over the company’s ability to sustain compliance with all of Nasdaq’s listing requirements, Sharper Image said in a company statement. The specialty retailer also said it had decided not to appeal the delisting, which it could have requested. Sharper Image said the stock could continue to trade on the over-the-counter market.