Bally Total Fitness (BFT) got an NYSE delisting notice.
The delisting will be effective next Wednesday. Bally expects its shares, down 19 cents Thursday at 97 cents, to trade on the pink sheets.
NYSE Regulation cited Bally's failure to satisfy the NYSE's continued listing standards, including minimum market capitalization and minimum average share price requirements. Additionally, NYSE Regulation considered the company's failure to file its 2006 Annual Report on Form 10-K in a timely fashion and its stated liquidity position.
The company had been in communication with NYSE Regulation regarding the noncompliance with continued listing standards but was unsuccessful in its efforts to avoid suspension and potential delisting. The company doesn't intend to appeal the NYSE's determination.