Buffets posts $67.45 million loss from operations for April 3 through April 30

By Caroline Salls

Pittsburgh, May 29 - Buffets Holdings, Inc. reported a $67.45 million loss from operations for the period of April 3 through April 30 on $35.32 million in total sales, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

The figures compared to a $40.27 million loss from operations reported for the period of March 6 to April 2 on $1.207 billion in total sales.

The net loss for the latest period was $64.73 million, narrowing from a $110.15 million net loss for the previous period.

The company had $75.46 million in cash and cash equivalents at April 30, compared with $34.5 million at April 2.

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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