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Musicland records $3.61 million March EBITDA loss
By Caroline Salls
Pittsburgh, April 18 - Musicland Holding Corp. reported a $3.61 million EBITDA loss for March on $26.83 million in net sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
In February, the company posted a $4.72 million EBITDA loss on $30.13 million in net sales.
The operating loss for March was $52.94 million, improved from a $57.4 million February operating loss.
The March net loss was $53.88 million, compared with a $57.4 million February net loss.
Cash on March 31 was $74.15 million, up from $14.72 million at the end of February.
Musicland, a Minnetonka, Minn., specialty retailer of pre-recorded entertainment software products, filed for bankruptcy on Jan. 12. Its Chapter 11 case number is 06-10064.
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