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Vestis Retail sees $7.2 million operating loss for May 29 to July 2
By Caroline Salls
Pittsburgh, July 29 – Vestis Retail Group, LLC posted a $7.2 million operating loss for the period of May 29 to July 2 on $54.38 million in net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Vestis reported a $960,374 operating loss for the period of May 1 to May 28 on $70.57 million in net sales.
The net loss for the June period was $10.09 million, widening from a $2.93 million net loss for the May period.
The company had $2.46 million in cash and cash equivalents as of July 2, down from $2.92 million at May 28.
Meriden, Conn.-based Vestis was formed by Versa Capital Management, LLC and operates retailers Eastern Mountain Sports, Bob’s Stores and Sport Chalet. The company filed bankruptcy on April 18 under Chapter 11 case number 16-10971.
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