Toisa records $11.92 million net loss for March; net revenue declines

By Caroline Salls

Pittsburgh, April 27 – Toisa Ltd. reported an $11.92 million net loss for March on $3.91 million in net revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures showed a decline from the $11.06 million net loss posted for February on $5.27 million in net revenue.

Unrestricted cash at March 31 was $57.76 million, down from $71.66 million at the end of February.

Toisa is a Hamilton, Bermuda-based shipping business. The company filed for bankruptcy on Jan. 29, 2017 under Chapter 11 case number 17-10184.

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