Former Constar records $1.77 million April loss for U.S. operations

By Caroline Salls

Pittsburgh, May 21 - Capsule International Holdings, LLC, formerly Constar International Holdings, LLC, reported a $1.77 million operating loss for April on zero net sales, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The company's operating loss for March was $2.54 million, also on zero net sales.

Constar International U.K. Ltd. had an operating income of zero in April on zero net sales, the same as in March.

The U.S. operations posted a $4.61 million April net loss, while U.K. operations posted zero net income.

Also, the U.S. operations reported $1.12 million in cash and cash equivalents as of April 30, while the U.K. operations reported zero.

Previously, the U.S. operations listed cash and cash equivalents of $2.59 million as of March 31, and the U.K. operations zero cash and cash equivalents.

Constar's U.K. assets were sold as of Feb. 14.

Constar, a Trevose, Pa.-based maker of polyethylene terephthalate food and beverage containers, filed for bankruptcy on Dec. 19. The Chapter 11 case number is 13-13281.

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