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August 14, 2007

Quaker Fabric asks to have its stock delisted

FALL RIVER, Mass. -- The struggling Quaker Fabric Corp., which fired its 920 employees last month and shut down its Fall River plant, has asked to have its stock delisted from NASDAQ.

The former textile giant, founded in 1945, had previously announced plans to liquidate its assets to pay back lenders. Late Monday, Quaker told the U.S. Securities and Exchange Commission that it had asked NASDAQ to "terminate the listing of its common stock" and suspend trading after the market closes on Thursday.

-- Journal staff writer Benjamin N. Gedan

Posted by Mike McKinney  at 12:40 PM | Permalink

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