Birks Group has secured an 18-month extension from the NYSE American following the approval of its compliance plan, allowing the company to retain its listing while working to meet ongoing financial requirements.
Extension Granted Following Non-Compliance Notice
Birks Group has received confirmation from the NYSE American that its compliance plan has been accepted, extending its continued listing through 25 August 2026. The company had been under review after receiving a notice on 25 February 2025 citing non-compliance with Sections 1003(a)(i) and (ii) of the exchange’s Company Guide. These rules relate to minimum shareholders’ equity and operating performance standards.
Compliance Plan Submitted and Approved
In response, Birks submitted a compliance plan on 27 March 2025 detailing its strategy to improve financial performance and stabilise operations. The NYSE American approved the plan on 13 May 2025, allowing Birks to remain listed while it works to meet required benchmarks. The company will be subject to regular progress reviews during this period.
Management Statement on Strategic Focus
Jean-Christophe Bédos, President and CEO of Birks Group, said:
“This extension reaffirms our ability to execute a disciplined turnaround strategy. We remain focused on optimizing operations, enhancing profitability, and delivering exceptional value to our shareholders and clientele.”
The company has stated that its strategy includes operational changes, inventory controls, and cost management.
Market Context and Industry Implications
The extension gives Birks time to improve its financial metrics amid ongoing pressures in the retail and luxury sectors. Demand in the fine jewellery market continues to fluctuate due to inflation and changes in consumer spending, and public companies in the sector are operating under increased investor scrutiny.
Birks’ ability to meet its compliance milestones will determine whether it can maintain its listing. Any shortfall may trigger further regulatory review. For industry stakeholders, the development highlights the growing need for financial resilience and adaptability in a volatile retail environment.
Next Steps
Birks’ Class A shares will continue to trade on the NYSE American under the symbol “BGI.” The company is expected to report on its progress as required by the exchange. Its performance during the compliance period will be monitored by investors and industry observers managing similar operational and regulatory challenges.
