UNITED FASHIONS IS DELETED FROM NASDAQ STOCK MARKET
UNITED FASHIONS IS DELETED FROM NASDAQ STOCK MARKET NEW YORK, May 22 /PRNewswire/ -- United Fashions Inc.
(NASDAQ: UFAS), a Delaware corporation, announced today that it has been deleted from the NASDAQ Stock Market effective May 22, 1992.
The National Association of Securities Dealers, Inc. (NASD), stated that it could not grant a further extension of the company's filing requirement in connection with the filing of its annual report on Form 10-K. The company has been delayed in its filing because the information with respect to FIMOPAR S.r.L., an Italian corporation, the company's 50 percent indirectly owned Italian subsidiary, was only recently made available to the company. Further, as reported in the company's Form 8-K, dated March 25, 1992, the company's independent accountants resigned. As of April 23, 1992, the company engaged new independent accountants. Such engagement is reported in the company's Form 8-K filing of April 28, 1992. As stated in its letter requesting a further extension from NASD, the company's new auditors commenced their audit immediately upon their engagement in April and the company anticipates that its Form 10-K for 1991 will be filed in the first two weeks of June and its quarterly report on Form 10-Q soon thereafter. The company expects to be reinstated as soon as its filing obligations to NASD have been met, although such decision and the timing of such reinstatement is determined by NASD at its discretion. -0- 5/22/92 /CONTACT: Christopher Bartle, 212-925-2800, for United Fashions/ (UFAS) CO: United Fashions Inc. ST: New York IN: TEX SU:
SH-GK -- NY041 -- 3380 05/22/92 14:30 EDT
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|Date:||May 22, 1992|
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