Amex Will Delist Three D’s Stock

Three D Departments Inc. said Friday that its stock is being delisted by the American Stock Exchange because the company’s shares no longer meet minimum trading requirements.

The company, which will begin trading over-the-counter on Feb. 28, linked its delisting from the Amex to cumulative losses that pushed the market value of the company’s shares below minimum standards.

Three D, which operates 23 home textile and housewares stores in California, Arizona and Connecticut, has reported $2.7 million in net losses during the past five years. The company linked the losses to the decision to close 20 locations in recent years as part of a change in its retail format.

During the fiscal year ended Aug. 3, 1996, Three D reported a $975,141 net loss on $11.4 million in sales. A year earlier the company reported a $645,781 net loss on $12 million in sales.

Three D Chairman and Chief Executive Bernard Abrams said that the company recently increased its line of credit to $12 million from $9 million to help fund a planned expansion. The company also reported that it had purchased more than 800,000 shares of its own stock in recent years.

Three D’s stock closed at 75 cents, down $12.5 cents a share, on Thursday in Amex trading.