Hancock Fabrics records $924,000 net profit for April 2 to April 29

By Caroline Salls

Pittsburgh, May 19 – Hancock Fabrics, Inc. reported a $924,000 net profit for the period of April 2 through April 29 on zero revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, Hancock posted a $189,000 net loss for the period of Feb. 26 through April 1, also on zero revenue.

Hancock had $6.82 million in cash and cash equivalents as of April 29, up from $6.56 million at April 1.

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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