NYSE Allows Celadon to Remain Listed

Posted: Updated:
INDIANAPOLIS -

Indianapolis-based Celadon Group Inc. (NYSE: CGI) has been granted a reprieve from being delisted from the New York Stock Exchange, The logistics company will be allowed to remain active on the NYSE through May 2 as it continues to "work diligently" again become current with its filings to the U.S. Securities and Exchange Commission.

Celadon says the extension is subject to review by the NYSE and provides it time to file annual reports from fiscal years ending June 30, 2016 and June 30, 2017, as well as quarterly reports for the three-month periods ending September 30, 2016, December 31, 2016 and March 31, 2017. In May, Celadon said the NYSE warned it could fall out of compliance and be delisted. It also announced a deep financial review and changes to its leadership team.

Celadon has been working to reposition itself financially, including naming a new chief financial officer in mid-October and a new chief executive officer in July, refinancing its revolving credit facility, cutting its three driving academies and downsizing its truck fleet by 400.

In January, Celadon announced it was seeking tax breaks for a planned $28 million new headquarters in Hancock County that would serves as a consolidation point for the company.

  • Perspectives

    • The Importance of Strategic Planning

      How many years have you put work-life balance on your list of New Year's resolutions? Every day, I see so many business owners struggle with the same issues: working 60+ hours each week, not being able to remember the last time they had a vacation, and simply feeling like it's up to them to do it all in their business. After working with countless business owners to identify and overcome their challenges, I've realized the most common root cause is a lack of strategic planning.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Electric Works Lands State Incentives

      The first phase of a major redevelopment project in downtown Fort Wayne will receive state assistance. The Indiana Economic Development Corp. has awarded a conditional tax credit for Electric Works, a mixed-use innovation district located at the former GE campus. The incentive is part of the IEDC's Industrial Recovery Tax Credit program, used to boost investment in the redevelopment of former industrial facilities. Developers are projecting an initial investment of more than...

    • Well-Known Real Estate Firm Expanding to Fort Wayne

      Texas-based Keller Williams Realty Inc. has announced plans to open its first office in downtown Fort Wayne. Financial details of the real estate company's investment in the location were not immediately disclosed, however the expansion will bring at least 35 jobs to the Allen County city.

    • Nestl√© Planning $80M Anderson Expansion

      Nestlé USA has unveiled plans to invest nearly $80 million into its Anderson operations. Our partners at The Herald Bulletin report the company will purchase new equipment for the facility and add 30 jobs.

    • Construction to Begin on $15M Fieldhouse

      City and development officials will break ground Friday on a $15 million sports complex in Noblesville. Finch Creek Park Fieldhouse will include five courts with hard surfaces, two turf-surfaced fields and 11 batting and pitching cages. The project, which was first unveiled a year ago, is a public-private partnership between Klipsch-Card Athletic Facilities LLC and the city. The company is also owner/operator of the fieldhouse at Grand Park in Westfield.

    • Kroger Hires Eric Halvorson

      A former longtime Indianapolis television anchor and reporter has been hired by The Kroger Co. (NYSE: KR). Eric Halvorson, who left WISH-TV last year after 33 years, will serve as public affairs manager and media spokesman for the company's Central Division. He succeeds John Elliott, who will become the chief executive officer of Gleaners Food Bank in Indianapolis later this year.