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Musicland posts $231,000 August EBITDA loss
By Caroline Salls
Pittsburgh, Sept. 15 - Musicland Holding Corp. reported a $231,000 EBITDA loss for August on zero net sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.
The EBITDA loss shows improvement over a $544,000 EBITDA loss for July, also on zero net sales.
The operating loss for August was $757,000, gaining from a $1.06 million July operating loss.
The August net earnings were $1.92 million, compared with a $134,000 July net loss.
Cash on Aug. 31 was $24.65 million, compared with $50.26 million on July 31.
Musicland, a Minnetonka, Minn., specialty retailer of pre-recorded entertainment software products, filed for bankruptcy on Jan. 12, 2006. Its Chapter 11 case number is 06-10064.
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