Heilig-Meyers posts $34.42 million loss before taxes for 10 months to Dec. 31

By Caroline Salls

Pittsburgh, Feb. 15 - Heilig-Meyers Co. reported a $34.42 million loss before taxes for the 10 months ended Dec. 31 on $82.02 million in sales, according to an 8-K filing with the Securities and Exchange Commission.

The net loss for the 10-month period was $34.43 million.

Cash on Dec. 31 was $25.73 million excluding RoomStore and $14.65 million including RoomStore.

As previously reported, the company reported $76,000 in operating income for December on $127,000 of "other" income sales.

The numbers compare with a $15,000 November operating loss on $59,000 of other income sales.

The net loss for December was $202,000, down from a $30.17 million November net income.

Cash at Dec. 31 was $25.73 million, compared with $24.59 million at the end of November.

Heilig-Meyers, a Richmond, Va.-based furniture retailer, filed for bankruptcy on Aug. 16, 2000 in the U.S. Bankruptcy Court for the Eastern District of Virginia. Its Chapter 11 case number is 00-34533.

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