eToys

(ETYS)

was down 46.7% in preopen

Island

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trading after announcing late Monday that it would fire its remaining staff -- 293 employees -- in April.

The online toyseller also acknowledged that it faces delisting by

Nasdaq

if it cannot meet listing requirement within 90 days.

The company fired 700 people in January after a disappointing holiday season and it continues to seek a buyer.