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Hancock Fabrics posts $2.36 million operating loss for month ended Feb. 2
By Caroline Salls
Pittsburgh, March 25 - Hancock Fabrics, Inc. reported a $2.36 million operating loss for the month ended Feb. 2 on $21.21 million in sales, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
The figures showed a decline over a $77,000 operating income for the month ended Jan. 5 on $31.11 million in sales.
The net loss for the latest period was $3.76 million, widening from a $1.57 million net loss for the previous period.
Cash and cash equivalents on Feb. 2 were $2.28 million, compared with $2.93 million on Jan. 5.
Hancock Fabrics, a Baldwyn, Miss., specialty retailer of fabric and related home sewing and decorating accessories, filed for bankruptcy on March 21, 2007. Its Chapter 11 case number is 07-10353.
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