By selling for under $1 for a period of 30 consecutive business days, Ascena failed to meet its requirements for trading, according to the letter.
The company has until Jan. 27, 2020 to regain compliance.
Ascena Retail Group received a letter on July 29 from the Nasdaq Stock Market that it’s in jeopardy of being delisted, according to a Friday SEC filing.
To do so, Ascena’s stock is required to close above $1 for more than 10 consecutive days.
Ascena did not return request for comment by press time.
