The Handleman Co. anticipates that its stock will be delisted from the New York Stock Exchange as of March 25, due to the fact that the company's 30-day average market capitalization will fail to meet the $25 million minimum.

"The suspension of trading by the NYSE was the result of a quantitative calculation of the Company's market capitalization and not a reflection of its current liquidity position," said Handleman CEO Al Koch in a statement. "On March 11, 2008, Handleman Company amended its credit facility and at this time anticipates having sufficient liquidity to meet its ongoing operations. Total borrowings under the Company's $225 million credit facility as of March 19, 2008 were approximately $72 million, with over $35 million in excess availability."