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VIP Cinema Holdings sees $2.74 million loss from operations for April
By Caroline Salls
Pittsburgh, June 30 – VIP Cinema Holdings, Inc. reported a $2.74 million loss from operations for April on zero net sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, VIP posted $1.07 million of income from operations for the period of Feb. 18 through March 31 on $4.82 million in net sales.
The net loss for April was $7.07 million, widening from a $5.04 million net loss for the previous period.
In addition, VIP Cinema had $5.39 million in cash and cash equivalents as of April 30, down from $9.7 million at the end of March.
VIP Cinema is a New Albany, Miss.-based cinema seating company. The company filed bankruptcy on Feb. 18 under Chapter 11 case number 20-10345.
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