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Free Lance-Star had May net loss of $754,489; $2.98 million in revenue
By Kali Hays
New York, July 1 – Free Lance-Star Publishing Co. reported a $754,489 net loss for May on $2.98 million in revenue, according to its monthly operating report filed June 30 with the U.S. Bankruptcy Court for the Eastern District of Virginia.
Those numbers compare to a net loss of $417,414 on $2.95 million in revenue for April.
EBITDA for May was $362,345, down from $464,857 in April.
The company also reported $2.27 million in cash and cash equivalents as of May 31, nearly unchanged from $2.25 million as of April 30.
Free Lance-Star, based in Fredericksburg, Va., is a local media company that owns print, web and radio outlets. It filed for bankruptcy on Jan. 23. The Chapter 11 case number is 14-30315.
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