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Gadzooks posts $553,555 September operating loss
New York, Oct. 24 - Gadzooks Inc. showed a sharply higher $553,555 operating loss for September on zero revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Northern District of Texas.
The figure was up from a $28,909 operating loss in August, also on zero revenues.
The bigger deficit was due to $192,625 of compensation paid to insiders and officers and $278,619 spent on liquidation advertising.
The net loss was $616,012, wider than August's $34,164 loss.
Cash at Sept. 30 was $2.05 million, down from $2.39 million at Aug. 31.
The Dallas-area apparel retailer filed for bankruptcy on Feb. 3, 2004. Its Chapter 11 case number is 04-31486.
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