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Avado Brands loses $3.72 million in October on $21.26 million of sales
By Jeff Pines
Washington, Nov. 19 - Avado Brands Inc. lost $3.72 million in October on sales of $21.26 million, according to its monthly report filed with the U.S. Bankruptcy Court for the Northern District of Texas Friday.
The Madison, Ga.-based restaurant management company's operating income was $132,000.
For September, the company recorded a $17.84 million loss on sales of $28.1 million with $14.88 million operating loss.
Unrestricted cash and cash equivalents for October were $1.49 million. Restricted cash was $18.35 million.
Total cash and cash equivalents, including restricted cash, for September was $19.69 million and restricted cash was $18.24 million.
Avado, a Madison, Ga.-based restaurant company, filed for bankruptcy on Feb. 4, 2004. Its Chapter 11 case number is 04-31555.
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