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Design Within Reach Breathes a Sigh of Sweet Relief

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Last week, we told you about Design Within Reach’s do-or-die struggle with Nasdaq, that, for the second time in as many quarters, they had to go to the financial index and say “Um, well, see, we’re not quite ready yet to file.” And we promised that we’d follow up with what Nasdaq said in response. Well, they have, and Design Within Reach has had another bout of luck, as they’re going to allow them to stay listed. They’ve released a press release, which sounds a lot like, “We swear we’re not ever going to let this happen again. We’re really, really sorry. We’re going to make extra sure that the dog stays away from our homework this time, we promise. Pinky swear.” Like in this last paragraph of the statement:

Until the Company completes the reconciliation of the imbalance affecting its accrued inventory account, the Company will not be able to file its quarterly reports on Form 10-Q for the quarters ended July 1, 2006 and September 30, 2006. The Company continues to work diligently to complete the reconciliation.

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