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Hancock Fabrics posts $1.05 million operating loss for month ended May 31
By Caroline Salls
Pittsburgh, June 16 - Hancock Fabrics, Inc. reported a $1.05 million operating loss for the month ended May 31 on $19.35 million in sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
The figures compare to a $828,000 operating loss for the month ended May 3 on $18.91 million in sales.
The net loss for the month ended May 31 was $2.22 million, widening from a $1.87 million net loss for the previous period.
Cash and cash equivalents at May 31 were $2.35 million, compared with $2.71 million at May 3.
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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