Coyne International operating loss shrinks to $908,463 in February

By Caroline Salls

Pittsburgh, March 28 – Coyne International Enterprises Corp. reported a $908,463 operating loss for February on $17,305 in total revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Northern District of New York.

In comparison, Coyne posted a $2.12 million operating loss for January on $34,877 in total revenue.

The net loss for February was $1.35 million, narrowing from a $2.62 million January net loss.

In addition, the company had $3.03 million in cash and cash equivalents as of Feb. 29, down from $4.78 million at the end of January.

Coyne International Enterprises, a Syracuse, N.Y.-based commercial laundry company, filed for bankruptcy on July 31, 2015. The Chapter 11 case number is 15-31160.

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