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AFA Investment net loss grows to $5.43 million for Aug. 27 to Sept. 30
By Jim Witters
Wilmington, Del., Nov. 1 - AFA Investment Inc. posted a net loss of $5.43 million for the period of Aug. 27 through Sept. 30 on net sales of $4.78 million, according to the company's monthly operating report filed Oct. 31 with the U.S. Bankruptcy Court for the District of Delaware.
The figures compare to a $405,445 net loss for August on net sales of $7.45 million.
The company also reported cash and cash equivalents of $500 as of Sept. 30, down from $3,557 on Aug. 26.
AFA Investment, the parent company of AFA Foods Inc., a King of Prussia, Pa.-based processor of ground beef products, filed for bankruptcy on April 2 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 12-11127.
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