Former GM's operating loss declines to $5.06 million in March

By Caroline Salls

Pittsburgh, May 11 - Motors Liquidation Co., formerly General Motors Corp., reported a $5.06 million operating loss for March on $1.43 million in rental income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed a decline from the $2.57 million operating loss posted for February on $1.62 million in rental income.

The net loss for March was $18.01 million, widening from a $14.35 million February net loss.

Motors Liquidation had $990.16 million in cash and cash equivalents at March 31, down from $991.59 million at the end of February.

GM, a Detroit-based automaker, filed for bankruptcy on June 1, 2009 in the U.S. Bankruptcy Court for the Southern District of New York. The new General Motors Corp. emerged from Chapter 11 on July 10, 2009, and Motors Liquidation's Chapter 11 case number is 09-50026.

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