Toisa records $7.21 million October net loss; net revenue increases

By Caroline Salls

Pittsburgh, Dec. 1 – Toisa Ltd. reported a $7.21 million net loss for October on $8.47 million in net revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures showed improvement over the $11.94 million net loss posted for September on $5.02 million in net revenue.

Unrestricted cash at the end of the month was $42.75 million, down from $47.68 million at the end of September.

Toisa is a Hamilton, Bermuda-based shipping business. The company filed for bankruptcy on Jan. 29, 2017 under Chapter 11 case number 17-10184.

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