NEW YORK - Following weeks of reports that Rite Aid is preparing to file bankruptcy, the national pharmacy chain has been notified that it is in danger of being delisted from the New York Stock Exchange.

In a regulatory filing, Rite Aid disclosed that the NYSE declared one week ago that the company is no longer in compliance with the exchange's continued listing standards.

According to a document posted on the Securities and Exchange Commission’s website, the chain’s average total market capitalization over a consecutive 30 trading-day period was less than $50 million, and, at the same time, its stockholders’ equity was less than $50 million. In addition, the average closing price of the company’s common stock was less than $1.00 per share over a consecutive 30 trading-day period.

Rite Aid has ten business days from receipt of the notice to send a letter to the NYSE to indicate whether it intends to cure the deficiencies, and 45 days to submit a business plan demonstrating how it intends to restore compliance.

 If the NYSE accepts the plan, Rite Aid would be subject to ongoing quarterly monitoring for compliance with the plan.

If the plan is rejected by the exchange, the company could be suspended and subject to delisting proceedings.

The Company has six months from receipt of the Notice, or until the Company’s next annual meeting of stockholders if stockholder approval is required, to regain compliance with the Minimum Stock Price Standard by bringing its share price and 30 trading-day average share price above $1.00.

Rite Aid says it is reviewing what it describes as strategic alternatives to recapitalize, refinance or optimize its capital structure.

The company notes that it cannot provide assurances that it will be able to satisfy any of the needed steps and maintain the listing of its shares on the NYSE.