Toisa sees net loss grow to $30.85 million in November; revenue drops

By Caroline Salls

Pittsburgh, Jan. 4 – Toisa Ltd. had a $30.85 million net loss in November on negative $478,388 in 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, Toisa posted a $1.8 million net loss in October on $551,111 in net revenue.

The November net loss included $20.04 million in “other expenses.”

Cash and cash equivalents stood at $38.75 million as of Nov. 30, down from $39.54 million at the end of October.

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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