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DirectBuy reports $1.83 million operating loss for March; income down
By Caroline Salls
Pittsburgh, May 3 – DirectBuy Holdings, Inc. posted a $1.83 million operating loss for March on $1,977 in total income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
For February, DirectBuy reported $476,885 of operating income on $2.41 million in total income.
The net loss for March was also $1.83 million, narrowing from a $12.79 million February net loss.
In addition, the company had $1.03 million in cash and cash equivalents as of March 31, down from $3.62 million at the end of February.
DirectBuy is a Merrillville, Ind.-based members-only showroom and home design center that offers merchandise at manufacturer-direct prices. The company filed bankruptcy on Nov. 1, 2016 under Chapter 11 case number 16-12435.
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