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Friday, Aug 12, 2022
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Blue Holdings Receives Second Delisting Notice

Blue Holdings Inc. said Wednesday in a Securities and Exchange Commission filing that it received notification from the Nasdaq stock exchange that the company had not submitted its earnings report for the period ended March 31 and once again faces delisting.


The struggling Commerce-based high-end denim company had received a delisting notification earlier this month because its shares had traded below $1 for more than 90 days.


Blue Holdings said earlier this month that it would have to restate earnings after it found accounting errors and said it would attribute that to the delay in filing the report. The company’s chief financial officer quit the next week.


Blue said it expects to file its delinquent earnings report prior to a Nasdaq panel hearing but added that there is no guarantee that after the hearing the company will continue to be listed on the exchange.


Shares in Blue closed down 5 percent to 44 cents Wednesday.

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