Appvion and Paperweight debtors release results for Jan. 29-Feb. 25

By Caroline Salls

Pittsburgh, April 5 – Appvion, Inc. reported a $1.83 million operating loss for the period of Jan. 29 through Feb. 25 on $53.2 million in net sales, according to its monthly operating report filed April 5 with the Securities and Exchange Commission.

Those figures showed improvement over the $2.99 million operating loss posted for the period of Dec. 31 through Jan. 28 on $49.93 million in net sales.

Appvion’s net loss for the latest period was $9.04 million, widening from an $8.12 million net loss for the previous period.

Appvion had $12.59 million in cash as of Feb. 25, up from $10.05 million at Jan. 28.

In addition, the company’s Paperweight Development Corp. debtor recorded a $107,000 net loss for the Jan. 29 through Feb. 25 period, compared with a $111,000 net loss for the previous month.

Paperweight had no operating income, net sales or cash for either period.

Appvion is an Appleton, Wis., producer of thermal, carbonless, security, inkjet, digital specialty and colored papers. The company filed for bankruptcy on Oct. 1, 2017 under Chapter 11 case number 17-12082.

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