Avado Brands reports $2.06 million November loss, revenue of $21.32 million

By Jeff Pines

Washington, Dec. 16 - Avado Brands Inc. reported a $2.06 million loss in November compared with a $3.72 million loss the month before.

The Madison, Ga.-based restaurant company filed its monthly operating report with the U.S. Bankruptcy Court for the Northern District of Texas Thursday.

Net revenue improved slightly to $21.32 million compared with $21.24 million in October.

Operating income rose to $1.06 million compared with October's $132,000.

Cash and cash equivalents for November were $19.87 million with $1.57 million of it unrestricted. In October, the company reported total cash and cash equivalents of $19.83 million with $1.49 million of cash free from restrictions.

Avado filed for bankruptcy on Feb. 4, 2004. Its Chapter 11 case number is 04-31555.

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