Sears Methodist posts net loss of $352,167 for October, revenue up

By Kali Hays

New York, Dec. 15 – Sears Methodist Retirement System, Inc. reported a net loss of $352,167 for October on $313,872 in net revenue, according to its monthly operating report filed Dec. 15 with the U.S. Bankruptcy Court for the Northern District of Texas.

In comparison, Sears Methodist posted a net loss of $80,840 on revenue of $263,249 for September.

The company also reported $1.98 million of cash as of Oct. 31, increasing from $1.32 million at Sept. 30.

Sears Methodist is a Dallas-based nonprofit senior living provider that filed for bankruptcy on June 10. The Chapter 11 case number is 14-32821.

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