Borders' operating loss for July 31 to Aug. 27 period is $1.3 million

By Caroline Salls

Pittsburgh, Sept. 20 - Borders Group, Inc. reported a $1.3 million operating loss for the period of July 31 to Aug. 27 on $140.5 million in total revenues, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.

Borders posted a $305.9 million operating loss for the period of June 26 to July 30 on $152.2 million in total revenues.

The net loss for the August period was $65.9 million, narrowing significantly from a $328.2 million net loss for the July period.

The company had $89.7 million in cash and cash equivalents Aug. 27, down from $114.5 million on July 30.

Borders, an Ann Arbor, Mich.-based retailer of books and other educational and entertainment items, filed for bankruptcy on Feb. 16 in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 11 case number is 11-10614.

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