On 04/01/2009, The Walking Company Holdings, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

The Walking Company Holdings, Inc. announced that as a result of the actions it has taken in connection with its voluntary delisting from NASDAQ, it has received a NASDAQ deficiency letter on March 20, 2009 indicating that the Company now fails to comply with the audit committee requirements set forth in Marketplace Rule 4350(d)(2), which requires a listed company to have an audit committee composed of at least three independent directors. The deficiency results from the Company's plan, as a cost-savings measure, to delist its stock from NASDAQ and deregister under the Securities Exchange Act, such that it will no longer file public statements with the SEC. Since the Company will no longer be a reporting company to the SEC, it decided to reduce the size of its Board of Directors. As a result of those resignations which were announced in early March, the Company had only one remaining audit committee member, David Walsh, and was not in compliance with the Marketplace Rule 4350(d)(2) which requires companies have three independent directors on their audit committees.

On March 23, 2009, the Board of Directors of The Walking Company Holdings, Inc. unanimously approved the filing of a Form 25 with the SEC to voluntarily delist from the NASDAQ Global Market (NASDAQ) its common stock on April 2, 2009. On March 25, 2009, it notified the NASDAQ Stock Market of its intention to delist. Approximately 10 days after the filing date of the Form 25, the company plans to file a Form 15 with the SEC to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.