Hancock Fabrics posts $139,000 operating loss for month ended Oct. 6

By Caroline Salls

Pittsburgh, Oct. 26 - Hancock Fabrics, Inc. reported a $139,000 operating loss for the month ended Oct. 6 on $26.04 million in sales, according to its monthly operating report filed Friday with the Securities and Exchange Commission.

The figures showed improvement over a $1.36 million operating loss for the month ended Sept. 1 on $18.51 million in sales.

The net loss for the latest period was $1.79 million, narrowing from a $3.43 million net loss for the previous period.

Cash and cash equivalents on Oct. 6 were $4.23 million, compared with $4.85 million on Sept. 1.

Hancock Fabrics, a Baldwyn, Miss., specialty retailer of fabric and related home sewing and decorating accessories, filed for bankruptcy on March 21, 2007 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 07-10353.

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