Container Store Group (TCS) shares were suspended from trading on the New York Stock Exchange following a determination to start delisting proceedings, the exchange said late Monday.
The company does not meet the continued listing requirements after failing to maintain an average global market capitalization of at least $15 million for 30 consecutive days, the exchange added.
The NYSE said it will apply to the US Securities and Exchange Commission to delist Container Store shares after completing all applicable procedures, including any appeal by the company.
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