The New York Stock Exchange said it was suspending Farfetch Ltd. shares
FTCH,
immediately, citing a Monday securities filing that mentioned the company’s expectation that Class A and B stockholders won’t recover any of their outstanding investments.
Coupang
CPNG,
said Monday that it would buy the business and assets of luxury retailer Farfetch Holdings, but the listed entity Farfetch Ltd. was unable to secure the additional liquidity it needed to continue as a going concern.
Farfetch Ltd. said in the filing that it expected to be delisted from the NYSE and to be liquidated.
On Friday, Farfetch shares closed at 64 cents. The stock was halted Monday morning.