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Hancock Fabrics reports $5.21 million net profit for Aug. 28-Oct. 1
By Caroline Salls
Pittsburgh, Oct. 20 – Hancock Fabrics, Inc. reported a $5.21 million net profit for the period of Aug. 28 through Oct. 1 on negative $203,000 in total revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Hancock posted a net loss of $9.52 million for the period of July 31 through Aug. 27 on $38,000 in total revenue.
Hancock had $20.74 million in cash and cash equivalents as of Oct. 1, down from $20.97 million at Aug. 27.
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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