New York City Kirkland's Inc. has received a deficiency notice from the Nasdaq Stock Market for failing to keep its stock at the minimum bid price of $1.
Kirkland's shares are listed on the Nasdaq Global Market. Shares of the stock have failed to close at or above the $1 minimum bid price for 30 consecutive business days.
The company has 180 calendar days, until Aug. 6, to regain compliance. Shares must close at or above $1 for a minimum of 10 consecutive business days to show it can maintain the compliance.
The stock could be delisted if it fails to meet the requirements of the minimum bid price rule.
Kirkland's, based in Jackson, Tenn., operates 329 stores in 35 states.