Shares of LL Flooring, which are now in penny stock status after the company fell into bankruptcy on Sunday, took another hit this week.
The Henrico-based flooring retailer said late Tuesday that it received a notice from the New York Stock Exchange that its stock will be delisted from the coveted exchange.
The NYSE said the stock, which has traded under the symbol “LL,” is “no longer suitable” for an NYSE listing because of the company’s Chapter 11 bankruptcy filing earlier this week.
Trading of LL stock on the NYSE was immediately suspended pending completion of the delisting process. LL Flooring shares have since been moved to the less desirable OTC market under the symbol “LLFLQ,” where they closed Wednesday at 11 cents. That puts the company’s market cap at $3.39 million.
At Monday’s closing bell, the share price was 84 cents and the market…
