NYSE Suspends Trading Of hhgregg Stock

'Material news' expected
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The New York Stock Exchange (NYSE) has halted trading of hhgregg shares, pending the release of “material news.”

The New York Stock Exchange (NYSE) has halted trading of hhgregg shares, pending the release of “material news.”

The troubled retailer is reportedly preparing a Chapter 11 filing following a dismal holiday quarter, and recently hired a high-profile investment bank to help it “pursue a range of potential strategic and financial transactions.”

The chain reported a 24 percent decline in sales and a $58 million net loss during the holiday quarter, and was already facing delisting from NYSE.

The stop order came in at 4 p.m. this afternoon (Monday, Feb. 27), the Nasdaq Trader indicated.

Update: hhgregg filed an 8-K and said it will not appeal the determination

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