Former General Motors posts $2.8 million August operating loss

By Caroline Salls

Pittsburgh, Oct. 1 - Motors Liquidation Co., formerly General Motors Corp., reported a $2.8 million operating loss for August on $1.37 million in rental income, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed improvement over the $6.61 million operating loss posted for July on $1.07 million in rental income.

The net loss for August was $31.2 million, widening from a $15.74 million July net loss.

Motors Liquidation had $964.17 million in cash and cash equivalents at Aug. 31, down from $976.57 million at the end of July.

GM, a Detroit-based automaker, filed for bankruptcy on June 1, 2009. The new General Motors Corp. emerged from Chapter 11 on July 10, 2009, and Motors Liquidation's Chapter 11 case number is 09-50026.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.