Corporate Resource Services Inc. (NASD: CRRS), up for possible sale under a deal with its funder, reported it does not plan to appeal a move by the Nasdaq to delist the company, according to a filing with the US Securities and Exchange Commission.

The New York-based staffing provider reported a Feb. 23 letter from Nasdaq indicated the exchange plans to suspend trading in the company’s common stock on March 4 and remove its securities from listing.

Nasdaq’s letter comes after the company’s recent announcement earlier this month its PEO had filed for bankruptcy protection after owing as much as $100 million in tax debt. The PEO was owned by the same person who was Corporate Resource Services majority shareholder.

Corporate Resource Services only began trading on Nasdaq in September 2013. It ranked as the 22^nd largest US staffing and talent engagement firm based on 2013 revenue.