The travails of multititle mailer Concepts Direct continue. The Longmont, CO-based cataloger received a delisting notification from Nasdaq on Jan. 7. Because the company does not comply with the minimum $2.5 million stockholders’ equity reuirement, Nasdaq is delisting the stock from itsSmallCap Market as of Jan. 15.
The parent company of the Colorful Images stationery catalog and the Linda Anderson, Snoopy Etc., Garfield Stuff, and Music Stand gifts titles, Concepts Direct has suffered from falling revenue and mounting losses. The company announced on Dec. 23 that it was for sale–four days after chairman/president/CEO Philip Wiland and his wife offered to buy the company for $0.68 a share.