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Hancock Fabrics reports $14.25 million net loss for July 3 to July 30
By Caroline Salls
Pittsburgh, Aug. 23 – Hancock Fabrics, Inc. reported a net loss of $14.25 million for the period of July 3 through July 30 on $8.25 million in total revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
Comparatively, the company posted a $30.75 million net loss for the period of May 29 through July 2 on $38.08 million in total revenue.
Hancock had $14.38 million of cash and cash equivalents as of July 30, down from $19.24 million at July 2.
Based in Baldwyn, Miss., Hancock is a specialty retailer of fabric and related home sewing and decorative accessories. The company filed for bankruptcy on Feb. 2, 2016 under Chapter 11 case number 16-10296.
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