NYSE suspends shares of luxury retailer Farfetch amid liquidation warning
By Josh Beckerman
The New York Stock Exchange said it was suspending Farfetch Ltd. shares (FTCH) immediately, citing a Monday securities filing that mentioned the company's expectation that Class A and B stockholders won't recover any of their outstanding investments.
Coupang (CPNG) said Monday that it would buy the business and assets of luxury retailer Farfetch Holdings, but the listed entity Farfetch Ltd. was unable to secure the additional liquidity it needed to continue as a going concern.
Farfetch Ltd. said in the filing that it expected to be delisted from the NYSE and to be liquidated.
On Friday, Farfetch shares closed at 64 cents. The stock was halted Monday morning.
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12-19-23 1831ET
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