NEW YORK — Bakers Footwear Group is back in business — at least with the Nasdaq stock market.
The company announced Tuesday after the markets closed that it has regained compliance for continued listing on the Nasdaq by meeting the minimum market value for publicly held shares of $5 million or more.
Previously on June 9, the St. Louis-based retail chain reported that it had received a delisting warning from Nasdaq after failing to maintain minimum market value for the prior 30 days. The company was given 90 days to regain compliance by meeting the minimum for 10 consecutive trading days.
On Tuesday, shares closed at $2.76, up from 86 cents on June 30. Nasdaq has acknowledged that Bakers has met its requirements and stated that the matter is now closed.