US: American Apparel resolves listing deficiency
Basic clothing retailer American Apparel Inc has said it is back in compliance with the New York Stock Exchange's listing requirements.
The company said it had received a letter from the exchange indicating it had resolved its continued listing deficiency.
The Los Angeles-based firm had been warned in February it could lose its listing if it didn't address some financial issues.
Last month, the basic clothing retailer sold US$30m of its stock in a bid to avoid the de-listing. The company, which has been battling mounting losses, said the proceeds of the offering would be used to cover an interest payment of around $13.4m due 15 April.
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