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Former General Motors reports $2.98 million operating loss for May
By Caroline Salls
Pittsburgh, June 28 - Motors Liquidation Co., formerly General Motors Corp., reported a $2.98 million operating loss for May on $1.69 million in rental income, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures showed a decline from the $1.84 million operating loss posted for April on $2.48 million in rental income.
The net loss for May was $14.22 million, narrowing from a $14.28 million April net loss.
Motors Liquidation had $972.38 million in cash and cash equivalents at May 31, down from $983.64 million at the end of April.
GM, a Detroit-based automaker, filed for bankruptcy on June 1, 2009 in the U.S. Bankruptcy Court for the Southern District of New York. The new General Motors Corp. emerged from Chapter 11 on July 10, 2009, and Motors Liquidation's Chapter 11 case number is 09-50026.
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