Hancock Fabrics reports $464,000 operating loss for month ended April 5

By Jennifer Lanning Drey

Portland, Ore., May 1 - Hancock Fabrics, Inc. reported a $464,000 operating loss for the month ended April 5 on $24.02 million in sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The figures compare to a $1.3 million operating loss for the month ended March 1 on $20.89 million in sales.

The net loss for the most recent period was $1.93 million, an improvement from a $2.28 million net loss for the previous period.

Cash and cash equivalents at April 5 were $2.43 million, up from $2.36 million at March 1.

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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