Hancock Fabrics posts $72,000 operating loss for month ended Aug. 4

By Caroline Salls

Pittsburgh, Aug. 29 - Hancock Fabrics, Inc. reported a $72,000 operating loss for the month ended Aug. 4 on $17.67 million in sales, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

The figures compare to a $6.74 million operating loss for the month ended July 7 on sales of $23.92 million.

The net loss for the latest period was $1.5 million, improving from a $10.06 million net loss for the previous period.

Cash and cash equivalents on Aug. 4 were $8.9 million, compared with $8.58 million on July 7.

Hancock Fabrics, a Baldwyn, Miss., specialty retailer of fabric and related home sewing and decorating accessories, filed for bankruptcy on March 21 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 07-10353.

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