Meruelo Maddux reports $508,022 February net loss from operations

By Caroline Salls

Pittsburgh, March 16 - Meruelo Maddux Properties Inc. reported a $508,022 net loss from operations for February on $1.89 million in total revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Central District of California.

In comparison, the company posted a $581,782 net loss from operations for January on $1.93 million in total revenues.

The net loss for February was $1.7 million, narrowing from a $2.6 million January net loss.

Meruelo Maddux had $9.75 million in cash at Feb. 28, up from $9.18 million at the end of January.

Meruelo Maddux, a self-managed, full-service real estate company that develops, redevelops and owns commercial and multi-family residential properties, filed for bankruptcy on March 26, 2009. Its Chapter 11 case number is 09-13356.

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