North Face Stock Plummets
SAN LEANDRO, Calif. (AP) _ The North Face Inc.’s stock tumbled Thursday on news that the sportswear and outdoor gear company may be forced to seek bankruptcy protection.
In a three-paragraph statement, the company acknowledged that its financial condition raises ``substantial doubt about its ability to continue as a going concern.″
North Face shares fell $2.47, or 67 percent, ending at $1.22 on the Nasdaq Stock Market.
The company said there is no guarantee it would be able to follow through on any of the recovery alternatives it is exploring.