Headlines

Spiegel to Go Over the Counter

Company's stock was delisted by Nasdaq earlier this week

Published

22 years ago

June 5, 2002

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Spiegel Inc. (Downers Grove, Ill.), which was delisted by Nasdaq earlier this week, has begun trading its stock on the over-the-counter market.

On Monday, Spiegel announced that its stock had been pulled from the Nasdaq for failing to meet certain filing requirements, including not turning in its 2001 annual report and its first quarter 2002 financial results.

Spiegel, which has been saddled with heavy losses and mounting debt, said it had not made those filings due, in part, to a delay in renegotiating a lending agreement with its banks. But the company said negotiations with its lenders “are advanced.”

Spiegel, which began life as a catalog house, operates the Eddie Bauer, Newport News and Spiegel Catalog units, as well as the 560-plus-store Eddie Bauer retail chain.

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