OSH delisted: End of a brief era

After bankruptcy, Orchard Supply Hardware shares are removed from the NASDAQ Stock Market.

The Orchard Supply Hardware brand will carry on as a division of Lowe’s, but the ticker symbol will not.

The NASDAQ Stock Market removed Orchard’s class A common stock from listing on the market Wednesday, marking the end of a brief era for the OSH ticker symbol.

After the San Jose, Calif.-based retailer spun off from Sears Holdings in June 2011, its shares hit the market in January 2012. On day one, shares of OSH closed at $23.55. About 16 months later, the share price was $0.30. “Orchard expects that the company’s equity holders will experience a complete loss of their investment as a result of Orchard’s Chapter 11 bankruptcy proceedings,” the company said in a press release Wednesday.

Back in February of 2012, CEO Mark Baker described the retailer’s mid-size store layout (42,000 sq. ft. to 75,000 sq. ft.) as a sort of merger between big store breadth of product and small-store service to customer. "We're not a small big box, but a really big small box," he said.

But losses mounted. The company had earnings of $8.7 million in 2010, but swung to a net loss of $118.4 million in 2012

Orchard’s class A common stock will continue to trade on OTC Markets under the symbol OSHWQ.


- 11:47 PM
tfejohnson says

I work at Lowes and can't for the life of me understand why Lowes is bailing out a bankrupt company when internally Lowes has big issues.

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