Barnes & Noble Education receives NYSE non-compliance notice

NEW YORK - Barnes & Noble Education, Inc. (NYSE:BNED) has received a notice from the New York Stock Exchange (NYSE) regarding non-compliance with listing standards due to a delayed annual report filing, the company announced Friday.

The education solutions provider failed to file its Annual Report on Form 10-K for the fiscal year ended May 3, 2025, within the required timeframe. According to the company, an ongoing audit committee internal investigation prevented management from completing the financial reporting process and preparing financial statements. InvestingPro data reveals the company operates with a significant debt burden of $364.1 million and maintains a weak overall financial health score of 1.71.

The NYSE notice, received on August 4, gives BNED six months from August 1, 2025, to regain compliance by filing the delayed report. The company stated it anticipates filing within this period, which would resolve the compliance issue.

During this period, BNED’s common stock will continue trading on the NYSE without immediate effect. The stock has shown significant volatility, with a 52-week range of $7.90 to $14.40, and has declined nearly 19% over the past year. The exchange reserves the right to commence delisting proceedings if circumstances warrant.

If the company fails to file within the initial six-month window, the NYSE may grant an additional six-month extension depending on specific circumstances.

Barnes & Noble Education provides campus retail services and academic solutions at hundreds of academic institutions nationwide. The information in this article is based on a company press release statement.

In other recent news, Barnes & Noble Education has disclosed an ongoing internal investigation into potential accounting irregularities. This investigation has delayed the filing of its annual report for the fiscal year ending May 3, 2025. The company’s Audit Committee is examining whether the accounts receivable balance was overstated by up to $23 million. This could affect the reported results for fiscal years 2024 and 2025. The disclosure came through a Form 12b-25 filing, which is used when a company cannot file its annual report on time. This development is crucial for investors as it might impact the financial statements of the company significantly.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.