Chesapeake reports $1.49 million operating loss for Feb. 2 to March 1

By Caroline Salls

Pittsburgh, April 1 - Chesapeake Corp. reported a $1.49 million operating loss for the period of Feb. 2 to March 1 on $3.71 million in net sales, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

In comparison, the company posted a $1.91 million operating loss for the period of Dec. 29 to Feb. 1 on $4.2 million in net sales.

The net loss for the latest period was $6.36 million, narrowing from a $9.72 million net loss for the previous period.

As of March 1, the company had $947,670 in cash and cash equivalents, down from $2.16 million at Feb. 1.

Chesapeake, a Richmond, Va.-based manufacturer and supplier of specialty paperboard packaging products, filed for bankruptcy on Dec. 29 in the U.S. Bankruptcy Court for the Eastern District of Virginia. Its Chapter 11 case number is 08-36642.

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