fye Closed 50 Stores in its Fiscal 2018"), sales were still down 17% for the chain, similar to the overall loss for Trans World when results from its ecommerce company etailz were included.
Declining sales and losses are not the only problems for the company. It also faces delisting by NASDAQ due to its stock price falling below $1 per share for an extended period (the stock closed at $.34 per share on Tuesday). As a counter to that problem, the company has proposed a 1-20 reverse stock split, which must be approved at the shareholders meeting in June.
And Mark R. Higgins, son of the deceased founder and long-time CEO Robert Higgins, has proposed a slate of four new directors to replace incumbents who have been re-nominated for the upcoming election. "Shareholders have suffered from an extended period of stock price decline and poor operating results that I believe warrants an overhaul in the boardroom," Higgins said in a public filing.
The shareholders meeting will be held June 27.
As It Battles Delisting and a Proxy Fight for Control Begins
Posted by Milton Griepp on May 29, 2019 @ 3:43 am CT
As It Works with Licensor to Help Backers of Failed Kickstarter
September 20, 2019
Jasco, Lynnvander, and companies left hanging by Space Goat Productions came together to help the backers of the failed Kickstarter.