Former Hostess records negative $76,000 of EBITDA for November period

By Caroline Salls

Pittsburgh, Dec. 4 – Old HB, Inc., formerly Hostess Brands, Inc., posted negative $76,000 of EBITDA for the period of Oct. 18 through Nov. 14 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 posted negative $98,000 of EBITDA for the period of Sept. 20 through Oct. 17, also on zero net revenue.

Old HB had an operating profit for the November period of $125.11 million, reflecting a $125.53 million gain on extinguishment of debt, compared with a $362,000 operating loss for the October period. The net profit for the latest period was $125.1 million, improving from a $206,000 net loss for the previous period.

Cash holdings were $4.26 million as of Nov. 14, down from $15.08 million at Oct. 17.

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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