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Musicland posts $58,000 February EBITDA loss
By Caroline Salls
Pittsburgh, April 4 - Musicland Holding Corp. reported a $58,000 EBITDA loss for February on zero net sales, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.
The EBITDA loss decreased from a $101,000 January EBITDA loss, which was also on zero net sales.
The operating loss for February was $299,000, an improvement over a $460,000 January operating loss.
The February net loss was $3.97 million, up from a $368,000 January net loss.
Cash on Feb. 28 was $11.76 million, compared with $11.95 million on Jan. 31.
Musicland, a Minnetonka, Minn., specialty retailer of pre-recorded entertainment software products, filed for bankruptcy on Jan. 12, 2006. Its Chapter 11 case number is 06-10064.
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