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Musicland posts $1.17 million May EBITDA loss
By Caroline Salls
Pittsburgh, June 16 - Musicland Holding Corp. reported a $1.17 million EBITDA loss for May on zero net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
In April, the company posted a $4.3 million EBITDA loss, also on zero net sales.
The operating loss for May was $10.6 million, down from a $12.54 million April operating loss.
The May net loss was $11.13 million, improved from a $12.55 million April net loss.
Cash on May 31 was $56.11 million, compared with $65.86 million at the end of April.
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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