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Hoop Holdings posts $757,756 operating loss for month ended May 31
By Caroline Salls
Pittsburgh, June 30 - Hoop Holdings, LLC reported a $757,756 operating loss for the month ended May 31 on zero net sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, the company posted a $13.45 million operating loss for the month ended May 3 on $31.14 million in net sales.
The net loss for the latest period was $141,554, down from a $3.42 million net income reported in the previous period.
The company had $55.62 million in cash and cash equivalents at May 31, compared with $66.66 million at May 3.
Hoop, a Secaucus, N.J., company that designs, contracts to manufacture and sells merchandise under the Disney Store brand name, filed for bankruptcy on March 26. Hoop's Chapter 11 case number is 08-10544.
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