Tandycrafts: Stock To Be Delisted
FORT WORTH, Texas (AP) _ Home-decor chain Tandycrafts Inc. said it will be delisted from the New York Stock Exchange by May 14.
The Fort Worth-based company on Saturday said it is deciding whether to appeal the decision and is evaluating alternative trading options, including the pink sheets.
Tandycrafts lost $19.7 million last year on sales of $110.8 million, and its stock has dropped from $26 per share in 1993 to below $1.
The NYSE said Tandycrafts failed to meet its listing standards.
Shares of Tandycrafts were up a penny to close Friday at 16 cents.
Tandycrafts is a maker and marketer of picture frames and wall decor. Tandycrafts’ products are sold nationwide through wholesale distribution channels, including mass merchandisers and specialty retailers.
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