Former Vestis sees $8.69 million of operating income for July3-July 30

By Caroline Salls

Pittsburgh, Aug. 31 – VRG Liquidating, LLC, formerly Vestis Retail Group, LLC, posted $8.69 million of operating income for the period of July 3 to July 30 on $11.19 million in net sales, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, VRG reported a $7.2 million operating loss for the period of May 29 to July 2 on $54.38 million in net sales.

Net income for the July period was $4.32 million, improving from a $10.09 million net loss for the June period.

The company had no cash and cash equivalents as of July 30, compared with $2.46 million at July 2.

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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