Nitches Incorporated  NICH
 

Apparel Industry Financial  Clothing Wholesaler Company Stocks  Wholesale Clothing Directory  

 

Nitches, Inc. (NASDAQ: NICH) (the "Company") January 21, 2009 announced the receipt of a letter dated January 16, 2009 from the NASDAQ Stock Market LLC notifying the Company that it is not in compliance with Nasdaq Marketplace Rule 4310(c)(14) because the Company did not file its quarterly report on Form 10-Q for the period ended November 30, 2008 by its prescribed due date. The Company also announced today that it has submitted written notice to the NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock from the NASDAQ Capital Market ("NASDAQ").

Historical Reference: Nitches, Inc. is a wholesale importer and distributor of clothing and home decor products manufactured to its specifications and distributed in the United States under its brand labels and retailer-owned private labels. The Company distributes clothing primarily in three categories: women's sleepwear and loungewear; women's sportswear and outerwear, and men's casual wear and performance apparel. Nitches, Inc. markets women's sleepwear and loungewear under the brands, including Princesse tam tam, Derek Rose, Crabtree & Evelyn, Disney Couture, The Anne Lewin Collection, The Claire Murray Collection and Gossard. The Company markets women's sportswear and outerwear under the brands, including Adobe Rose, Country Tease, Saguaro and Southwest Canyon. Nitches, Inc. markets men's casual wear and performance apparel under the brands, including Nat Nast, Newport Blue, Dockers, The Skins Game and ZOIC. The Company distributes home decor products under the Bill Blass and Newport Blue brands. In February 2008, the Company announced that it has acquired outdoor lifestyle retailer Backwoods Equipment Company, whose operations consist of Backwoods stores and travel service Backwoods Adventures. The Company sells its branded products to department stores, specialty boutiques, moderate department stores, and national and regional discount department stores and chains. Nitches, Inc. also develops and manufactures private label products for retailers and catalogs. On June 21, 2007, Nitches, Inc. entered into a securities purchase agreement with Birchten Investments, Ltd., an unaffiliated institutional investor, and Granite Financial Group, LLC, an unaffiliated investment bank, for the sale of 12% subordinated convertible debentures and common stock purchase warrants.

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