ccs103008_8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
___________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event
reported): October 24, 2008
___________
CIRCUIT
CITY STORES, INC.
(Exact
name of registrant as specified in its charter)
|
Virginia
(State
or other jurisdiction
of
incorporation)
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1-5767
(Commission
File Number)
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54-0493875
(I.R.S.
Employer
Identification
No.)
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9950 Mayland
Drive
Richmond, Virginia
(Address
of principal executive offices)
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23233
(Zip
Code)
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Registrant’s
telephone number, including area code: (804) 486-4000
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
3.01
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Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing.
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(a) On
October 24, 2008, Circuit City Stores, Inc. (the “Company”) received a notice
from the New York Stock Exchange (the “Exchange”) that the Company did not
satisfy one of the Exchange’s standards for continued listing applicable to its
common stock. The Exchange noted specifically that the Company was
“below criteria” for the Exchange’s price criteria for common stock because the
average closing price of the Company’s common stock was less than $1.00 per
share over a consecutive 30-trading-day period as of October 22,
2008. The Exchange’s price criteria standard requires that any listed
security trade at a minimum average closing share price of $1.00 during any
consecutive 30-trading-day period.
Under the
Exchange’s rules, in order to cure the deficiency for this continued listing
standard, the Company’s common stock share price and the average share price
over a consecutive 30-trading-day period must both exceed $1.00 by six months
following receipt of the non-compliance notice. The Company has not
yet determined the specific action or response in response to the Exchange’s
notice.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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CIRCUIT CITY STORES,
INC.
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(Registrant)
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Date: October 30,
2008
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By: /s/
Reginald D. Hedgebeth
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Reginald D.
Hedgebeth
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Senior Vice
President,
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General Counsel and
Secretary
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