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Published on 11/19/2004 in the Prospect News Distressed Debt Daily.

Maxim Crane Works posts $2.24 million loss for October

By Jeff Pines

Washington, Nov. 19 - Maxim Crane Works posted a $2.24 million loss in October on sales of $33.33 million, according to its monthly operating report filed with the U.S. Bankruptcy Court for the Western District of Pennsylvania Friday.

In September, the company reported a $2.67 million loss on sales of $29.34 million.

As of Oct. 31, the Pittsburgh-based crane rental company, officially known as ACR Management LLC, had cash of $6.04 million. Cash and cash equivalents on Sept. 30 were $8.58 million.

Maxim filed for bankruptcy on June 14, 2004. Its Chapter 11 case number is 04-27848.


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