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Former Hostess sees EBITDA fall to negative $421,000 in April period
By Kali Hays
New York, June 5 – Old HB, Inc., formerly Hostess Brands, Inc., posted negative EBITDA of $421,000 for April 5 to May 2 on zero net revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, the company reported EBITDA of $840,000 for Feb. 8 through March 7, also on zero net revenue.
Old HB had an operating loss of $671,000 for the most recent period, widening from a previous operating income of $414,000.
The company’s net loss for the April period was $515,000, deteriorating from a net income of $9.5 million during its March period.
Cash holdings were at $13.48 million as of May 2, compared to $14.48 million at March 7.
Hostess Brands, an Irving, Texas-based operator of regional bakeries, filed for bankruptcy on Jan. 11, 2012. Its Chapter 11 case number is 12-22052.
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