Item 3.01 Notice of Delisting or Failure to Satisfy
a Continued Listing Rule or Standard; Transfer of Listing
Champion Industries, Inc.'s (the Company's) common stock is listed on The NASDAQ Capital Market. On June 18, 2012, the Company received a NASDAQ staff deficiency letter from the Listing Qualifications Department of The NASDAQ OMX Group notifying the Company that it was not in compliance with the $2,500,000 stockholders' equity requirement for continued listing on The NASDAQ Capital Market set forth in NASDAQ Marketplace Rule 5550(b)(1). The Company was also notified in its deficiency letter that it did not meet the minimum bid price of $1.00 per share.

Under NASDAQ's listing rules, the Company has 45 calendar days to submit a plan to regain compliance with the $2,500,000 shareholder equity rule. If the Company's plan is accepted, NASDAQ can grant an extension of up to 180 days from June 18, 2012 to evidence compliance. The Company currently intends to review the NASDAQ deficiencies identified above and identify an appropriate course of action to address such deficiencies.

There is no assurance that our stock price will achieve the minimum bid price amount, or that our stock price will continue to meet the minimum requirement for continued listing, or that the Company will meet the other listing requirements of NASDAQ.

---