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Merit Group posts $448,801 operating loss for May 17 to May 31 period
By Caroline Salls
Pittsburgh, June 22 - Merit Group, Inc. reported a $448,801 operating loss for the period of May 17 to May 31 on $4.65 million in net sales, according to its monthly operating report filed June 21 with the U.S. Bankruptcy Court for the District of South Carolina.
The net loss for the period was $645,748.
The company had $2.43 million in cash and cash equivalents at May 31.
Merit, a Spartanburg, S.C., paint sundry distributor, filed for bankruptcy on May 17. The Chapter 11 case number is 11-03216.
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