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Hancock Fabrics sees $1.17 million net loss for Jan. 1 through Jan. 28
By Caroline Salls
Pittsburgh, Feb. 21 – Hancock Fabrics, Inc. reported a $1.17 million net loss for the period of Jan. 1 through Jan. 28 on zero revenue, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.
In comparison, Hancock posted $464,000 of net profit for the period of Nov. 27 through Dec. 31, also on zero revenue.
Hancock had $7.01 million in cash and cash equivalents as of Jan. 28, down from $7.93 million at Dec. 31.
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 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 case number 16-10296.
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