Buffets posts $7.86 million loss from operations for Feb. 7 to March 5

By Caroline Salls

Pittsburgh, April 9 - Buffets Holdings, Inc. reported a $7.86 million loss from operations for the period of Feb. 7 to March 5 on $122.92 million in total sales, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

The figures compare to $4.04 million in earnings from operations reported for the period of Jan. 22 to Feb. 6 on $66.25 million in total sales.

The net loss for the latest period was $12.86 million, widening from a $3.03 million net loss for the previous period.

The company had $16.92 million in cash and cash equivalents at March 5, compared with $65.1 million at Feb. 6.

Buffets Holdings, a steak-buffet restaurant company based in Eagan, Minn., operates restaurants under the names Old Country Buffet, HomeTown Buffet, Ryan's and Fire Mountain. The company filed for bankruptcy on Jan. 22 in the U.S. Bankruptcy Court for the District of Delaware, and its Chapter 11 case number is 08-10141.

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