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Hancock Fabrics posts $464,000 net profit for Nov. 27 through Dec. 31
By Caroline Salls
Pittsburgh, Jan. 19 – Hancock Fabrics, Inc. reported a $464,000 net profit for the period of Nov. 27 through Dec. 31 on zero revenue, according to its monthly operating report filed Jan. 18 with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Hancock posted a $543,000 net loss for the period of Oct. 30 through Nov. 26, also on zero revenue.
Hancock had $7.93 million in cash and cash equivalents as of Dec. 31, down from $9.18 million at Nov. 26.
Based in Baldwyn, Miss., Hancock is a specialty retailer of fabric and related home sewing and decorative accessories. The company filed for bankruptcy on Feb. 2, 2016 under Chapter 11 case number 16-10296.
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