Live Ventures Provides Business Update

Written by Customer Service on . Posted in Public Companies.

LAS VEGAS, April 06, 2020 (GLOBE NEWSWIRE) — Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company, today provided a business update in response to the COVID-19 pandemic.
Vintage Stock has temporarily closed all of its retail stores and expects stores to remain closed until permitted to reopen by government authorities.  Vintage Stock continues to operate and serve its customers online at www.vintagestock.com.Marquis Industries, a national carpet manufacturer and hard surface flooring supplier, is continuing to operate on a scaled down basis to meet continuing demand and service its customers.  Sales, administration, warehouse, distribution and some manufacturing facilities remain open with temporarily reduced staffing.  Marquis has agreed to file for unemployment benefits for employees who are temporarily furloughed during this time.Jon Isaac, President and Chief Executive Officer of Live Ventures, commented, “We are following the guidance of global health professionals to ensure the health and wellbeing of our associates, customers, and communities. Our associates and customers are our main priority and our thoughts are with those affected by this situation.”  Mr. Isaac continued, “As of April 3, 2020, we estimate we had total cash on hand and availability under our various lines of credit between $18 million – $20 million. Despite near-term uncertainties, we remain confident in the long-term potential of our business and we will continue to monitor the situation and respond accordingly.”Live Ventures expects to publish its Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2019 on or before April 10, 2020.About Live VenturesLive Ventures Incorporated, originally incorporated in 1968, is a diversified holding company with several wholly owned subsidiaries and a strategic focus on acquiring profitable companies that have demonstrated a strong history of earnings power. Through its subsidiary Marquis Industries, the company manufactures and sells residential and commercial carpets primarily in North America. Marquis Industries also designs, sources and sells hard-surface flooring. Through its subsidiary Vintage Stock, an award-winning entertainment retailer, the company sells new and pre-owned movies, classic and current generation video games and systems, music on CD & LP, collectible comics, books, toys, and more. Vintage Stock, through its stores and website, ships product worldwide directly to the customer’s doorstep. Through its subsidiary ApplianceSmart, the company sells new major household appliances in the United States through a chain of company-owned retail stores operating under the name ApplianceSmart®.Forward-Looking and Cautionary StatementsContact:
Live Ventures Incorporated
Tim Matula, Investor Relations
(425) 836-9035
tmatula@liveventures.com
http://liveventures.com
Source:  Live Ventures Incorporated

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