Schlotzsky's common stock has been delisted from the Nasdaq effective at the opening of business this morning.
The company received a Nasdaq staff determination letter indicating that its securities will be delisted from the Nasdaq unless Schlotzsky's requests a hearing, which it says it does not intend to do. The Nasdaq staff determination to delist the company's securities was based on Marketplace Rules 4300 and 4450(f) and Schlotzsky's recent filing for relief under Chapter 11 of the U.S. Bankruptcy Code and certain other related concerns.
As a result of the Chapter 11 filing, the letter "Q" will be appended to Schlotzsky's trading symbol, making the trading symbol "BUNZQ."
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