The New York Stock Exchange has warned Kmart Corp that its common stock could be subject to a trading suspension and delisting because the average share price of its common stock for the past 30 days has been below $1.

The retailer, which is in Chapter 11 bankruptcy, now has six months to comply with the NYSE's criteria for continued listing.

In a prepared statement Kmart officials said they believe an "alternative trading venue" will be available if the stock ceases to be traded on the NYSE.