Joe's Jeans Inc. (DFBG)

[4starman]

News release!

DJ Joe's Jeans Gets Delisting Notice; Lender Talks Continue -- Market Talk

Dec 03, 2014 11:17:00 (ET)

11:17 EST - LA-based Joe's Jeans (JOEZ) received a Nasdaq delisting notice, after its stock price fell and has remained below $1.00/share since the jeans retailer defaulted on $94M in debt early last month. Lenders could take action against JOEZ at any time, but the company said negotiations toward a waiver or amendment continue. Last year JOEZ purchased rival jean producer Hudson Clothing Inc. for $94.1M, which included cash and $22.9M in bonds. The purchase was financed largely with a loan from Garrison Loan Agency, which JOEZ fell out of compliance on in September amid low earnings. JOEZ has until May 26 to regain Nasdaq compliance before the company is delisted. Shares down 3.9% at 34c. ([e-mail], @stephgleason)


(END) Dow Jones Newswires

December 03, 2014 11:17 ET (16:17 GMT)


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